16.11.2015 - Technical view on commodity futures

The price of gold after some consolidation above the level of 1080 showed a gap at the beginning of the trading session and reached the level of 1095. In the case of the continuation of the upward movement, quotations can grow up to 1120 and 1140. In order to continue the fall, price needs to break through the support level at 1080. We expect the growth of quotations soon, but its potential is limited.

Nearest resistance levels: 1100, 1120, 1140, 1150, 1165, 1190, 1205, 1215, 1230

Nearest support levels: 1080, 1060, 1050, 1100

Gold in October 2015

The price of Light sweet crude oil continues confident decline within the local descending channel, and after reaching the target at the 42.00 the negative dynamics with a high likelihood will continue until the next targets at 40.00 and 38.00. Correction is possible to the levels 43.00 and 44.00, overcoming of which will be a signal for fixing position. We recommend holding short positions and maintain a negative medium-term outlook.

Nearest resistance levels: 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 42.00, 40.00, 38.00

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