23.03.2016 - Technical view on commodity futures

The price of gold broke through the support level at 1244 and was able to overcome an angled support line. Confirmation of the signal for opening short positions will be fixing below the important level of 1230. In such case the target levels will be 1200, 1165 and 1140. In case of rebound, quotations may return to the level of 1244. Our medium-term outlook remains negative.

Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330

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

The price of Light sweet crude oil continues to consolidate within the range 40,00-42,00. In case of overcoming the level of 42.00, the growth will continue until 44.00. According to our forecasts, in the near future, the price of oil will fall to 37.30, and then can continue to decline to 34.00 and 31.00. 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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