16.09.2016 - Technical view on commodity futures

The price of gold continued to decline and has reached the support level at 1315 around which is consolidating at the moment. In case of continued negative dynamics, closest target will be 1300. Fixing the price below this mark is unlikely. According to our estimates, the growth of quotations will resume in the near future and in such case the first targets will be 1330 and 1356. Our medium-term outlook remains positive.

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 fixed below the levels of 45.00, and continued to fall within the descending channel. In case of continued negative dynamics quotes will reach the next target levels at 43.00 and 40.00. The breaking of the upper limit of the downward channel and the level of 45.00 will be the reason for further growth to 47.00. Our medium-term outlook remains negative and we expect a further fall within the channel.

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

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