21.09.2016 - Technical view on commodity futures

The price of gold has continued movement around the level of 1315, despite the rise in volatility. The fall of price in the near future is limited by the levels of 1300-1305 and to overcome them will be required strong impulse. A more likely scenario, according to our estimates is the resumption of growth of quotations with potential targets at 1330 and 1356. We expect a strong price movement in the near future and maintain a medium-term positive outlook.

Nearest resistance levels: 1330, 1356, 1375, 1400, 1430, 1450

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

The price of Light sweet crude oil rebounded from the support level at 43.40 and returned to the level of 45.00. In case of overcoming this mark and continued growth, we expect a further increase of price to the levels 46.30 and 47.00. At the same time, there is a probability of resumption of negative dynamics with the first targets at 43.40 and 40.00. We expect an increased level of volatility in the near future and maintain the medium-term negative view.

Nearest resistance levels: 45,00, 46,30, 48,50, 50,60, 52,00, 54,00

Nearest support levels: 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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