13.01.2016 - Technical view on commodity futures

The price of gold after breaking through the inclined line of support and the level of 1090, continued to fall and reached the level of 1080 after overcoming of which will fall to 1065 and 1050. In case of correction, the price may rise to 1090-1100. We expect a further decline in gold prices in the coming days.

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

Nearest support levels: 1080, 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil shows a slight increase after the rebound from the inclined support line. Growth of price in connection with the correction may continue until 33.00 and 35.00. According to our estimates in the near future quotations will reach the psychologically important level of 30.00. Our medium-term outlook for oil remains negative, and we see no reason to change the current negative trend.

Nearest resistance levels:: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65, 44.00

Nearest support levels: 30.00, 28.00, 25.00, 20.00

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