17.03.2016 - Technical view on commodity futures

The price of gold was not able to keep falling after reaching the level of 1230, and resumed growth. As a result of strong upward impulse quotations returned to the level 1265 and may continue its growth to 1280 in the near future. Overcoming this level according to our estimates is unlikely, and we expect the resumption of the fall in the near future. Our medium-term outlook remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil broke through the level of 40.00 after renewed upward movement. The next upside target level in case of continued growth will be 42.00. The growth potential of price decreased significantly and increased the likelihood of changing the rising dynamics to negative. Our medium-term outlook remains pessimistic and we expect the resumption of the negative dynamics with the objectives at 36.00, 33.00 and 31.00.

Nearest resistance levels: 42.00, 44.00, 45.00, 49.00

Nearest support levels: 40.00, 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00

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