25.01.2016 - Technical view on commodity futures

The price of gold continues to consolidate around the psychologically important level of 1100. In case of continued rising dynamics and fixation above 1110 growth will continue to the target levels around 1140-1150. The fall is limited by the inclined support line and its break through will be the basis for further decline to 1065 and 1050. We expect continued consolidation within the triangle the price in the near future.

Nearest resistance levels: 1110, 1120, 1140, 1150, 115, 1190, 1205

Nearest support levels: 1080, 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil shows a strong growth after has not been able to overcome the level of 28.00 and started to correct after the sharp fall recorded this month. As a result, the price has returned to the downward channel, and soon will reach the resistance at 33.00, after which growth may continue until 35.00. According to our estimates, the current correction will be short and we recommend waiting for the signal for the opening short positions. Our medium-term outlook remains negative.

Nearest resistance levels: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65

Nearest support levels: 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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