18.12.2015 - Technical view on commodity futures

The price of gold after reaching the support level at 1050, rebounded upwards, and at the moment is corrected upwards and may soon reach the level of 1060. In order to continue the negative dynamics, the quotes need to gain a foothold below 1050. As a result of decline prices may continue to fall to 1000. We expect decline in the near future time, but the current correction might continue.

Nearest resistance levels: 1065, 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1050, 1040, 1000, 960

The price of Light sweet crude oil continued to decline after the correction, and reached the level of 36.00. Overcoming and fixing the price below this level will cause further decline with the first targets at 35.00 and 32.00. At the moment, there is a possibility of rebound from the level of 36.00 with a potential price increase to 38.00. Our medium-term outlook remains negative.

Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00

Nearest support levels: 36.00, 35.00, 32.00, 30.00

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