19.04.2016 - Technical view on commodity futures

The price of gold declined to the level of 1230, and in the near future will probably continue to consolidate within the range 1230-1244. Breaking its upper limit will be the basis for the continuation of price growth to 1265 and 1280. On the other hand, in case of breaking through the level of 1230 closest target level will be 1210, fixation below which is a signal to sell with the potential of fall to 1165 and 1140. Our medium-term outlook remains negative.

Nearest resistance levels: 1244, 1280, 1300, 1315, 1330

Nearest levels of support: 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil after a strong decline yesterday, could regain previously lost positions and to close the gap. A further price growth is limited by a strong resistance at 42.00. According to our estimates, prices fall will resume in the near future. Our medium-term outlook also remains negative with its closest targets at 37.30 and 36.00.

Nearest resistance levels: 42,00, 43,00, 44,00, 45,00, 49,00

Nearest support levels: 40,00, 37,30, 36,00, 35,00, 33,00, 31,00, 30,00, 28,00, 25,00

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