21.03.2016 - Technical view on commodity futures

The price of gold shows a sharp decline during which broke through the support level at 1244. The current momentum may continue in the near future to 1230. The breaking of this level and fixation below it will be a signal of change in the trend from positive to negative. In this case the target levels will be 1200, 1165 and 1140. Our medium-term outlook remains negative and we are waiting for further decline 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, 1080

The price of Light sweet crude oil could not overcome the resistance level at 42.00 and return to the ascending channel, which has left earlier. As a result, quotations began to fall and approached the psychologically important level of 40.00. In case of its breaking through, there is a high probability of price reduction to the level of 37.40 and 34.00. In case of resumption of growth, quotations will rise to 44.00. Our medium-term outlook remains negative.

Nearest resistance levels: 42.00, 44.00, 45.00, 49.00

Nearest support levels: 40.00, 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00

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