10.11.2015 - Technical view on commodity futures

The price of gold after a recent fall and breaking through the support level of 1100 was able to stabilize around the level of 1090 and is currently trying to overcome the upper limit of the downward channel. In case of continued fall, quotes will reach the support levels at 1080 and 1060. Correction of prices in the near future is possible until 1120. We expect consolidation of price near current levels in the near future and look forward to the new signals for opening positions.

Nearest resistance levels: 1100, 1120, 1140, 1150, 1165, 1190, 1205, 1215, 1230

Nearest support levels: 1080, 1060, 1050, 1100

The price of Light sweet crude oil continues to fall along the sloping line of support in the near future with a high probability will reach the target level of 44.00, and then can continue to decrease to 43.00 and 40.00. The growth in the near future is limited by the levels of 47.00 and 48.00. Our medium-term outlook remains negative and we recommend holding short positions.

Nearest resistance levels: 46.00, 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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