20.10.2015 - Technical view on commodity futures
The price of gold broke through the lower boundary of the ascending channel and in case of further decline may fall up to 1150. On the other hand the return of quotations within the frames of the channel will be a stimulus for the return of price to the local maximum at 1190, after which growth may continue until 1215. We expect the price increase in the short term, but we do not exclude the fall in the coming days.
Nearest resistance levels: 1190, 1205, 1215, 1230
Nearest support levels: 1165, 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100
The price of Light sweet crude oil after correction to the level of resistance at 48.00, resumed its decline and returned to local minimum. According to our forecasts, the drop in prices will continue in the near future to the target level of 44.00, but for its overcoming will be needed a strong impulse. Our medium-term outlook remains negative and the signal the resumption of growth will be fixation above 48.00.
Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00
Nearest support levels: 44.00, 42.00, 40.00, 38.00