16.08.2016 - Technical view on commodity futures

The price of gold showed an increase after failed to overcome the support level at 1330. In the near future quotes with a high probability will reach 1350 and then the closest targets will be 1375 and 1400. On the other hand, fixing below 1330 will cause further reduction of quotations to 1315 and 1300. Our medium-term outlook remains positive and volatility today will be increased.

Nearest resistance levels: 1350, 1375, 1400, 1430, 1450

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continued growth and has broken through the upper boundary of the local rising channel. As a result, quotes reached a resistance level at 46.30 and its overcoming will cause further growth of quotations to 47.00 and 48.50. At the moment, there is a possibility price correction after the strong growth and in this case, the first targets will be 45,00 and 43,00. Our medium-term outlook remains negative.

Nearest resistance levels: 46,30, 47,00, 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

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