21.01.2016 - Technical view on commodity futures

The price of gold has shown strong growth and reached the level of 1110, but was unable to overcome it and continue to grow. In case of fixing above this level, quotations will reach the levels of 1140 and 1150. In the near future quotes may fall to 1090 and an inclined support line. Our medium-term outlook remains negative, but we do not exclude the continuation of growth in the near future.

Nearest resistance levels: 1110, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1080, 1065, 1050, 1040, 1000, 960+

The price of Light sweet crude oil bounced up after reaching the level of 28.00, but the correction was short-term and currently quotes resumed its decline and may reach levels of 26.00 and 25.00. Within the correction, the quotations can return to the upper boundary of the local descending channel or psychologically important mark at 30.00. We maintain a medium-term negative outlook.

Nearest resistance levels: 30.00, 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65

Nearest support levels: 28.00, 25.00, 22.00, 20.00

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