16.12.2015 - Technical view on commodity futures

The price of gold has stabilized after overcoming the level of 1065 and currently is consolidating below it. In case of continued negative dynamics, the first targets will be 1050, and 1040. On the other hand, there is probability of the resumption of growth up to 1080, after which the upward momentum may continue until 1090 and 1100. We expect strong price movement today.

Nearest resistance levels: 1065, 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1050, 1040, 1000, 960

The price of Light sweet crude oil corrected upwards after reaching the target level of 36.00. At the moment, quotations are around the level 38.00, and in the case of continued growth will reach the upper limit of the local descending channel and levels of 40.00. We are forecasting a drop in the medium term, but admit a decrease of the potential for further continuation of the negative dynamics. Today, volatility will be very high.

Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00

Nearest support levels: 36.00, 35.00, 32.00, 30.00

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