10.08.2015 - Technical view on commodity futures
The price of gold after breaking through the upper limit of the downward channel is consolidating near the mark of 1100. In case of further growth, a signal for opening long positions will be fixing the price above the level of 1110. In this case, the price will rise to 1130 and 1150. On the other hand, a signal for opening positions will be breaking through the strong level of support at 1080. We expect the price consolidation around current levels in the near future and are waiting for new signals to the open position.
Nearest resistance levels: 1110, 1120, 1143, 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1080, 1060, 1050, 1100
The price of Light sweet crude oil after some consolidation near the level of 45.00, will continue to fall and at the moment is near the lower boundary of the downward channel. In case of correction, quotations may return to the levels of 45.00 and 47.00. Our medium-term outlook remains negative and we recommend holding short positions with targets at 42.00 at 40.00.
Nearest resistance levels: 45.00, 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00, 55.00
Nearest support levels: 44.50, 42.00, 40.00