22.03.2016 - Technical view on commodity futures

The price of gold shows growth after some consolidation near the support level at 1244. In case of continued upward dynamics, quotations may reach the resistance levels at 1280 and 1300, the overcoming of which is unlikely. With the resumption of negative dynamics, a signal to sell will be fixation lower than 1230. In this case, the negative dynamics of quotations will continue up to 1200, 1165 and 1140. Our medium-term outlook remains negative.

Nearest resistance levels: 1244, 1280, 1300, 1315, 1330

Nearest levels of support: 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil keeps consolidating below the level of 42.00 and in case of its overcoming the closest target level will be 44.00. On the other hand, after leaving the rising channel, there is the possibility of renewed negative dynamics and confirmation of the signal to sell will be fixation below 40,00. Our medium-term outlook remains negative and we are waiting for the signal to sell.

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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