13.05.2016 - Technical view on commodity futures

The price of gold increases within the local descending channel and may soon reach the level of 2080. Overcoming this level will be the basis for a further increase of quotations to the psychologically important mark at 1300. It is worth noting the high probability of further negative price dynamics in the near future to the level of 1244 and the lower boundary of the rising channel. 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 is consolidating near the level of 47.00 and if the price fixates above this level closest targets will be 49,00 and 50,00. The fall of price in the near future is limited by the lower border of the channel and the level of support at 45.00, fixing below which will become the basis for the continuation of the negative dynamics of price to 42.00 and 40.00. Our medium-term outlook 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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