18.05.2016 - Technical view on commodity futures

The price of gold is consolidated near the level of 1280 and approached the inclined resistance line. Its breaking through will be the basis for continued upward momentum of price to 1300. In the near future quotations may decline to the levels 1260 and 1244. Our medium-term outlook remains negative, but in the near future is probable re-testing of the level 1300.

Nearest resistance levels: 1280, 1300, 1315, 1330

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

The price of Light sweet crude oil continued to move within the local rising channel. Now the quotes are near the level of 49.00 and its overcoming will be the basis for the continuation of the upward movement to the psychologically important level of 50.00. After completion of this upward movement, we expect the resumption of negative dynamics of price with the potential of fall to 47.00 and 45.00.

Nearest resistance levels: 49.00, 50.00, 51.50

Nearest support levels: 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00

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