11.11.2015 - Technical view on commodity futures

The price of gold after a steady fall in the previous week, has stabilized near the level of 1190 and in the near future will probably continue to consolidate below the important level of 1100. In case of overcoming the level of 1110, we expect continued upward price movement to the levels 1120, 1140 and 1150. A further decline is limited by the support level at 1080 and 1060. In the near future the situation will remain uncertain.

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 slows down the fall and at the moment is near the level of 45.00. In case of continued downward momentum, the negative dynamics of quotations will continue to the levels 44.00 and 43.00. Within the correction is possible the increase of price to the levels 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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