24.08.2016 - Technical view on commodity futures
The price of gold shows a decline during which may return to the important support level at 1330 the overcoming of which will be the basis for the continuation of negative dynamics to 1315 and 1300. According to our estimates, the more likely will be the resumption of growth, and in such case the quotes will reach the target levels 1356 and 1375. Our medium-term outlook remains positive and we expect the price growth in the in the near future.
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 corrected sharply upwards after the recent decline and reached the bottom of the channel, which has left earlier and the level of 48.50. Fixation lower than these levels was a confirmation of the sell signal with the closest targets at 45.00 and 43.00. Growth in the near future is limited by resistance levels at 48.50 and 50.00. Our medium-term view remains negative and chance of falling is high in the near future.
Nearest resistance levels: 48,50, 50,60, 52,00, 54,00
Nearest support levels: 47,00, 46,30, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00