21.10.2015 - Technical view on commodity futures

The price of gold grows along the bottom of the local rising channel, and may extend the positive trend in the near future to the levels of 1190 and 1215. The signal for changing the local uptrend to positive will be price fixing below the level of 1165. We expect the growth of gold prices in the near future.

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 fixing below the level of 48.00 continued to decline, which is the basis for the continuation of the negative dynamics of prices to the level of 44.00. Overcoming this mark will lead to a drop in prices to the levels of 42.00 and 38.00. The growth in the near future is limited by the resistance at 48.00, above which is recommended to install a stop. Our medium-term outlook remains negative and we recommend holding short positions.

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

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