16.10.2015 - Technical view on commodities futures

The price of gold after an unsuccessful attempt of breaking through the level of 1190 started to correct and returned within the local rising channel and reached the level of 1175. A drop in prices may continue in the near future to 1165 and 1150. In case of resumption of growth quotations may reach the targets at 1195 and 1215. We expect the price increase soon.

Nearest resistance levels: 1195, 1205, 1215, 1230

Nearest support levels: 1175, 1165, 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil showed increased volatility after a sharp drop could not be kept below the important level of 47.00 and corrected upwards. The current correction may continue until 48.00 and 49.65. According to our estimates, more likely is a continuation of the negative dynamics of prices to the level of 44.00 in the near future. We also expect a decline of prices in the medium term.

Nearest resistance levels: 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 47.00, 44.00, 42.00, 40.00, 38.00

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