22.08.2016 - Technical view on commodity futures

The price of gold decreased to the level of support 1330 and in case of its breaking will continue to decline to 1315 and 1300. At the moment, there is a high probability of the rebound of price upwards with the nearest targets at 1350-1356, the overcoming of which will open the way for further growth to 1375 and 1400. Our medium-term outlook remains positive and we expect the price to rebound today.

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

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil has failed to reach the psychologically important level of 50.00 and started the correction. Fixing the price below the level of 48.50 will lead to the completion of the reversal pattern - double top, and will become a signal to sell with targets at 46.30 and 45.00. We still expect a price decline in the medium term and forecast the fall in the near future.

Nearest resistance levels: 50,60, 52,00, 54,00

Nearest support levels: 48,50, 47,00, 46,30, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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