17.09.2015 - Technical view on commodity futures

The price of gold after a long consolidation has broken through the inclined resistance line and reached 1120. Fixing above this mark will be the basis for opening long positions with a stop below 1100 and targets at 1150 and 1165. The fall of price in the near future is limited by the level of support at 1100. We expect increased volatility today and assume the possibility of further upward price movement in the near future.

Nearest resistance levels: 1120, 1150, 1165, 1195, 1205, 1215, 1230

Nearest next support levels: 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil has broken the upper boundary of the descending channel after a long consolidation below this level. Currently quotations are trying to gain a foothold above this level and if successful, we expect growth to 49.65, the overcoming of which will be a signal for opening long positions with the targets at 51.50 and 54.00. Our medium-term outlook remains negative, but growth may continue in the near future.

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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