17.10.2016 - Technical view on commodity futures

The price of gold continued to consolidate near the levels 1250-1260. In case of continued negative dynamics and overcoming of support 1244, we expect a further decline in price to 1220 and 1200. According to our estimates, the potential for the further decline considerably reduced and we expect the resumption of growth with the potential targets at 1400-1430. Our medium-term outlook remains positive, despite a likely decline in the near future.

Nearest resistance levels: 1280, 1300, 1315, 1330, 1356, 1375, 1400, 1430, 1450

Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil has broken the lower boundary of the rising channel and currently is consolidating near the level of 50.60. The growth of price in the near future is limited by the resistance level at 52.00. Confirmation of the sell signal in case of changing the trend to negative, will be fixing the price below 49.60. Our medium-term outlook remains negative and we expect a decrease in the near future.

Nearest resistance levels: 52,00, 54,00

Nearest support levels: 50,60, 48,50, 47,00, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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