14.09.2016 - Technical view on commodity futures
The price of gold after fixing below the level 1330, has continued to fall and reached the level of 1315, after overcoming of which, we expect a further decline of price until 1300. In case of correction quotes may return to the levels of 1330 and an inclined resistance line but more likely will be a further decline of price. It is worth noting that for breaking through the level of 1300 will be needed a strong impulse and according to our forecasts such a scenario is unlikely. We expect increased volatility in the near future and maintain a medium-term positive outlook.
Nearest resistance levels: 1330, 1356, 1375, 1400, 1430, 1450
Nearest levels of support: 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150
The price of Light sweet crude oil stabilized after the recent decline, and is currently consolidating above the level of 45.00. Breaking through and fixation of price below this level will be the basis for the continuation of the negative dynamics of price with the targets at 43.00 and 40.00. Within the correction quotes may return to the level of 47.00. Our medium-term outlook remains negative and we expect a decrease in the near future.
Nearest resistance levels: 46,30, 48,50, 50,60, 52,00, 54,00
Nearest support levels: 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00