11.04.2016 - Technical view on commodity futures

The price of gold broke through the important resistance level at 1244, which is the reason for the continuation of price growth to 1265 and 1280. Despite the probability of the continuation of the current growth of price in the near future, we forecast the resumption of the negative dynamics of prices with the nearest target levels at 1190, 1165 and 1140. Our medium-term outlook also remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil has shown a strong growth and broke through the resistance level at 40.00. In case of continued growth quotations may reach the resistance at 42.00, but overcoming it is unlikely. In case of opening short positions, the stop should be set above 42.00, and in this case the target levels will be 37.30 and 36.00. Our medium-term outlook remains negative and we expect decline in the near future.

Nearest resistance levels: 42.00, 44.00, 45.00, 49.00

Nearest support levels: 40.00, 37,30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00

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