12.11.2015 - Technical view on commodity futures

The price of gold keeps consolidating near the level of 1090 and after the completion of consolidation can start to correct upwards with growth potential to 1120 and 1140. On the other hand, price may fall to the levels of 1080 and 1060. We are waiting for new signals to open positions and expect increased volatility of price tomorrow.

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

Nearest support levels: 1080, 1060, 1050, 1100

XAU Chart

The price of Light sweet crude oil has reached the target level of 44.00 and is still falling within the local downtrend. In case of further decline, quotations will reach a local minimum at 43.00 and then may continue to fall to 42.00 and 40.00. It is worth noting the growth of the probability of upward price correction in the near future. 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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