15.02.2016 - Technical view on commodity futures

The price of gold after breaking through the important resistance level at 1200, continues to show strong growth within which reached the resistance levels at 1244 and 1256. At the moment, quotations are corrected and can decline to a sloping support line. The price growth may continue in the near future, but after a strong increase is likely a downward price correction.

Nearest resistance levels: 1230, 1244, 1256, 1280, 1300

Nearest support levels 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065

The price of Light sweet crude oil after some consolidation around the level of 1244 started to correct downwards and reached the inclined support line. In case of breaking and fixing of price below the level of 1200, we expect a continuation of the negative dynamics with 1165 and targets at 1140. At the moment, there is a possibility of rebound of price upwards, but our medium-term outlook remains negative.

Nearest resistance levels: 30.00, 31.00, 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00

Nearest support levels: 28.00, 25.00, 22.00, 20.00

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