09.08.2016 - Technical view on commodity futures

The price of gold continued to consolidate above the level of 1330 and in case its overcoming, will continue to decline to 1315 and 1300. On the other hand, there is a significant likelihood of a soon resumption of growth of quotations with the first targets at 1350 and 1375. Our medium-term outlook remains negative and we expect growth of quotations in the near future.

Nearest resistance levels: 1350, 1375, 1400, 1430, 1450

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continued to rise after has overcome the level of 42.00. As a result, quotations approached the resistance at 43.00 and can continue upward momentum to 44,00-45,00. According to our estimates, the current growth within the correction will be short-lived and the fall will resume in the near future.

Nearest resistance levels: 45,00, 46,30, 47,00, 48,50, 50,60, 52,00, 54,00

Nearest support levels: 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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