25.02.2016 - Technical view on commodity futures

The price of gold showed an increase and reached the important level of 1244 below which is consolidated at the moment. Fixing the price above this level is the basis for further growth with the closest target at 1265. At the moment, there is a possibility to changing the local trend to negative and reaching the mark 1200. We forecast a drop in the medium term and in the near future we can also see a minor correction.

Nearest resistance levels: 1244, 1256, 1280, 1300

Nearest support levels: 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065

The price of Light sweet crude oil after the recent decline, corrected upwards and approached the important level of 33.00. Currently quotes are trying to gain a foothold beyond the local descending channel, which quotations have left earlier. In case of breaking through the resistance at 33.00, the growth will continue until 34.00 and 35.00, but more likely scenario is the resumption of negative dynamics of prices in the near future with the targets at 30.00 and 28.00. Our medium-term outlook is also negative.

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

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

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