14.09.2015 - Technical view on commodity futures

The price of gold continues to consolidate above the level of 1100. The breaking of this level will become the basis for the further reduction of quotations to 1080 and 1060. It should be noted that for changing the local negative trend to positive, quotes need to break through the inclined resistance line and the level of 1120. We expect a strong price movement after the present consolidation. Our medium-term outlook remains negative.

Nearest resistance levels: 1120, 1150, 1165, 1195, 1205, 1215, 1230

Nearest next support levels: 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil continues to consolidate within a triangle where the upper boundary is the boundary of the descending channel, and the bottom one - a strong support level at 44.00. In case of breaking through and fixation below 44.00, we recommend to open short positions with the targets at 42.00 and 38.00 and stop above 47.00. Our medium-term outlook remains negative.

Nearest resistance levels: 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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