10.12.2015 - Technical view on commodity futures

The price of gold continues to consolidate above the level of 1065 and in case of overcoming it will reach the local minimum at 1050. In case of further increase quotes will reach the target marks on 1090-1100. We expect increased volatility in the near future and recommend to wait for the signal for opening positions.

Nearest resistance levels: 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1065, 1050, 1040, 1000

The price of Light sweet crude oil again reached the support level at 38.00 but failed to overcome it and jumped upwards. In case of breaking this level, quotes, will continue to decline with the objectives at 35,00-36,00. On the other hand, overcoming the mark of 40.00 will be a signal to buy with upside potential to 40.75, 42.00 and 43.65. Our medium-term outlook remains negative, but now there is a chance of correcting the price upwards.

Nearest resistance levels: 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00, 49.65

Nearest support levels: 38.00, 35.00, 32.00, 30.00

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