24.06.2016 - Technical view on commodity futures

The price of gold showed strong growth today within which updated highs of this year and has broken through the important level of 1350, but was not able continue its growth and as a result corrected downwards. According to our estimates after correction growth may resume and the price will return to 1350. On the other hand, the closest targets while reducing will become 1300 and 1280. Our medium-term outlook remains negative, but we do not exclude the rise in the near future.

Nearest resistance levels: 1330, 1350, 1365

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

The price of Light sweet crude oil has not been able to break through the local maximum near 50.60, and showed a sharp decline to 47.00 and then rebounded upward. In case of further growth, quotations may reach the level of 49.00. The signal about trend reversal to the negative will be fixing the price below 47.00. We forecast a drop in the near future, with the potential of achieving the marks 45,00 and 43,00.

Nearest resistance levels: 49,00, 50,60, 52,00, 54,00, 56,00, 58,60

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

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