10.05.2016 - Technical view on commodity futures

The price of gold after the sharp decline corrected upwards and at the moment is around the level of 1265. In case of continued rising dynamics quotations may return to the level of 1280. According to our estimates, the drop in quotations will continue until 1244, and the lower boundary of the rising channel. Our medium-term outlook remains negative, but the current growth may continue today.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil after a sharp rise yesterday, has resumed the fall and approached the lower boundary of the rising channel. In case of continued negative dynamics and fixing the price below the level of 43.00, we expect further reduction in price to the levels of 40.00 and 37.30. The growth in the near future is limited by the levels of 45.00 and 47.00. Our medium-term outlook remains negative.

Nearest resistance levels: 45.00, 46,50, 47.00, 49.00, 50.00, 51.50

Nearest support levels: 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00

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