12.05.2016 - Technical view on commodity futures

The price of gold rose to the level 1280 and in case of breaking through it, the growth may continue until 1300. In case of resumption of negative dynamics of price, we expect return to the levels of 1260 and 1244. It should be noted that the breaking through the lower boundary of the channel and the level of 1244 will be the basis for the continuation of negative dynamics with the objectives of 1230 and 1200. Our medium-term outlook remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330

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

The price of Light sweet crude oil has not been able to gain a foothold outside the rising channel and after overcoming the resistance at 45.00, reached a local maximum at 47.00. The overcoming of it will be a signal for further growth with the targets at 49.00 and 50.00. More than likely, according to our forecasts is a further decline to 45.00 and 44.00, fixing below which will be a signal for the continuation of negative dynamics to 40.00 and 37.30. Our forecast for the coming months remains negative.

Nearest resistance levels: 47.00, 49.00, 50.00, 51.50

Nearest support levels: 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00

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