17.02.2016 - Technical view on commodity futures

The price of gold after falling to the level of 1200, continues to consolidate around this mark, and in the near future may continue its upward movement with the potential of reaching the levels 1244 and 1256. On the other hand, fixing the price below the level of 1200, will be the basis for the continuation of a negative price dynamics until 1165, 1140 and 1100. We maintain our medium-term negative outlook.

Nearest resistance levels: 1230, 1244, 1256, 1280, 1300

Nearest support levels: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065

The price of Light sweet crude oil has shown a strong decline after could not overcome the level of 33.00. As a result, quotations have decreased to a level of around 31.00 where continues to consolidate at the moment. In case of continuation of the downward dynamics quotations will reach the levels of 30.00, 28.00 and 25.00. Growth is limited by the level of 33.00. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00

Nearest support levels: 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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