20.07.2016 - Technical view on commodity futures

The price of gold continued consolidation around the level of 1330 after broke the upper border of the local descending channel. In case of resumption of growth, quotes can reach levels 1350 and 1370. The closest targets during further reduction will be 1315 and 1300. After a long consolidation, we expect a strong price movement. Our medium-term outlook remains positive, despite a possible drop in the near future.

Nearest resistance levels: 1350, 1370, 1400, 1430, 1450

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continued to decline along the inclined line of resistance, and in the near future will probably reach the psychologically important level of 45.00. Overcoming this level will be the basis for the continuation of the negative dynamics of price to 43.00 and 40.00. In case of breaking through the inclined line of resistance, we expect to see a further increase in price to 46.30 and 47.00. Our medium-term outlook remains negative.

Nearest resistance levels: 46,30, 47,00, 48,50, 50,60, 52,00, 54,00, 56,00, 58,60

Nearest support levels: 45,00, 43,00, 40,00, 37,30, 36,00, 35,00

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