09.10.2015 - Technical view on commodity futures
The price of gold rebounded from the resistance level of about 1140 and returned to an important level of 1150. In case of further growth quotations will continue to increase to the levels 1165-1170. At the moment, there is a high probability of beginning of the downward price correction to the first targets at 1140. We do not expect a strong price movement today and for opening new positions, we need additional signals.
Nearest resistance levels: 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1140, 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil managed to break through the important level of 50.00, which is a clear signal for the continuation of the upward movement to the nearest targets at 51.50, after which quotations may rise to 54.00. A drop in prices within the correction is limited by the lower boundary of the channel and the level of 49.65. We expect growth of price in the near future.
Nearest resistance levels: 51.50, 52.00, 54.00
Nearest support levels: 50.00, 49.65, 48.00, 47.00, 44.00, 42.00, 40.00, 38.00