09.09.2015 - Technical view on commodity futures

The price of gold continues to move within a narrow corridor near the level of 1120. It should be noted that the given mark is the lower boundary of the triangle and fixation below it will be the basis for opening short positions with the first targets at 1100 and 1080. On the other hand, a buy signal will be price fixing above the local a maximum of about 1150. We expect strong price movement after the consolidation within the triangle and look forward to the signal to open new positions.

Nearest resistance levels: 1150, 1165, 1195, 1205, 1215, 1230

Nearest next support levels: 1120, 1110, 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil again rose to the upper limit of the downward channel, but could not reach the level of 47.00. It is worth noting that at the moment there is a high probability of reduction of quotations to the local lows near 44.50. If the price fixates below 44.00, we expect a further fall in price to 42.00 and 38.00. Growth is limited by the resistance at 49.65. We maintain a medium-term negative outlook.

Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 44.00, 42.00, 40.00, 38.00

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