18.01.2016 - Technical view on commodity futures

The price of gold broke through the upper limit of the local downward channel and currently is consolidating around the level of 1090. Within further decrease, quotes will reach the level of 1080 and may continue decline to 1065. On the other hand, growth may continue till 1110 and 1120. Tomorrow we expect strong growth in activity and quotes can show a sharp increase.

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

Nearest support levels: 1080, 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil continues to decline within the descending channel, and after breaking through the level of 31.00, is currently consolidating around 30.00. In case of breaking the upper limit of the downward channel, quotes will continue to rise to 32,00 and 33,00. Despite the likelihood of a correction, we expect a continuation of the negative dynamics of prices and maintain the medium-term negative outlook.

Nearest resistance levels:: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65, 44.00

Nearest support levels: 30.00, 28.00, 25.00, 20.00

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