24.11.2015 - Technical view on commodity futures

The price of gold continues to decline within the descending channel and currently is consolidating above the level of 1070. In case of further reduction of quotations within the channel, the price can reach the support level at 1060 and 1050. In case of growth, quotes will reach the level 1100 fixation above which will be the basis for further growth. We expect a further drop in prices in the near future.

Nearest resistance levels: 1080, 1100, 1120, 1140, 1150, 1165, 1190, 1205, 1215, 1230

Nearest support levels: 1060, 1050, 1000

The price of Light sweet crude oil continues to consolidate below the level of 43.00 and in case of its overcoming, we recommend to fix the short positions and the price may continue to rise to 44,00 and 45,00. At the moment, there is the possibility of renewed negative dynamics with nearest objectives at 40,00 and 38,00. We recommend keeping short positions with a stop above 43.00 and maintain a medium-term negative outlook.

Nearest resistance levels: 42.00, 43.00, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50

Nearest support levels: 40.00, 38.00

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