10.09.2015 - Technical view on commodity futures

The price of gold after a long consolidation near the level of 1120, which was also the lower boundary of the triangle began to decline sharply and reached the target level of 1100. In the case of further decline, quotes, will fall to 1080. The growth is limited by the sloping resistance line and mark of 1120. We expect continued consolidation within the price range of 1080-1120 in the near future.

Nearest resistance levels: 1120, 1150, 1165, 1195, 1205, 1215, 1230

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

The price of Light sweet crude oil continues to consolidate between the upper boundary of the descending channel and the support level at 44.00. In case of breaking through the boundary of the channel and the level of 47,00, quotes will continue to rise up to 49.65, securing above which will be basis for opening long positions. At the same time, consolidation below 44.00 will be the reason for further price decline to 42.00 and 38.00. Our medium-term outlook remains negative.

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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