14.04.2016 - Technical view on commodity futures

The price of gold continued to decline and broke through the support level at 1244 and then decreased to 1230. Overcoming this support will be the basis for further price reduction to 1210 and 1190. In the coming days we expect a high level of volatility. In case of rebound, quotations may return to 1244 and 1265, but we maintain a medium-term negative outlook with a target at 1100.

Nearest resistance levels: 1244, 1280, 1300, 1315, 1330

Nearest levels of support: 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil after some consolidation around the level of 43.00, resumed its decline and approached the level of 42.00. After the breaking through this support, the nearest target levels will be 40.00 and 37.30. In order to continue the growth, quotations need to overcome the local resistance level at 43.00. Our medium-term outlook is negative and in case of opening short positions, we recommend setting a stop above the level of 44.00.

Nearest resistance levels: 43,00, 44,00, 45,00, 49,00

Nearest support levels: 42,00, 40,00, 37,30, 36,00, 35,00, 33,00, 31,00, 30,00, 28,00, 25,00

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