25.05.2016 - Technical view on commodity futures

The price of gold after overcoming the support at 1244 has continued to fall and now is trying to fix below the level of 1230, which will be the basis for the continuation of negative dynamics of price with the first targets 1200 and 1165. In case of correcting quotations may return to the level of 1244. Our medium-term outlook remains negative, but we do not exclude the upward correction in the coming weeks.

Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330

Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil after the rebound from the lower boundary of the rising channel has returned to a local maximum around 49.50. Overcoming this resistance will be the basis for further growth of price to 50.00 and 51.50. Confirmation of the sell signal will be breaking through the bottom of the channel and support at 47.00. In this case, the target levels will be 45.00, 43.00 and 40.00. In the coming weeks, we expect to see the beginning of a significant price correction.

Nearest resistance levels: 49.50, 50.00, 51.50

Nearest support levels: 47.00, 46.50, 45.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00

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