19.05.2016 - Technical view on commodity futures

The price of gold decreases after failed to gain a foothold above the level of 1280. As a result, quotes broke through its support at 1260 and soon will reach the lower boundary of the rising channel and the level of 1244. The upward momentum in the near future is limited by the levels of 1280 and 1300. Our medium-term outlook remains negative, but we do not exclude the resumption of growth in the near future.

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 has broken through the lower border of the local rising channel and soon will fall to 47.00 and the bottom of the channel. Breaking and fixing of quotations below these levels will be a signal to change the upward trend to negative. In this case, the decline will continue until 45,00 and 43,00. Our medium-term outlook remains negative, but we do not exclude the possibility of the resumption of growth to 50.00.

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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