15.03.2016 - Technical view on commodity futures
The price of gold shows fall during which broke through the strong level of 1244 and an angled support line. As a result, quotations have decreased to the level of 1230, and may continue the fall to 1200 in the near future. The correction in the near future is limited by the level of 1244. We expect a further decline of quotations soon with the targets at 1200, 1165 and 1140. Our medium-term outlook is also negative.
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 fixation below the psychologically important level of 40.00, which it failed to overcome, resumed fall and broke the lower boundary of the rising channel. After fixing below the level of 39.00, the decline continued and according to our estimates, the price will fall to the levels of 37.30, 36.00 and 35.00 in a short time, after which the target levels will be 33,00 and 31,00. Our medium-term outlook remains negative and we with a high probability expect the fall in the short term.
Nearest resistance levels: 40.00, 40.75, 42.00
Nearest support levels: 39.65, 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00