25.07.2016 - Technical view on commodity futures

The price of gold after the recent correction resumed its fall and reached the support level at 1315. Overcoming this level will lead to a further reduction of quotations to 1300. In case of change the current negative dynamics to the positive a buy signal with the objectives of 1350 and 1370 will be the fixation above the level of 1330. Our medium-term outlook remains positive, but we do not exclude a further decline in the near future within the channel.

Nearest resistance levels: 1330, 1350, 1370, 1400, 1430, 1450

Nearest levels of support: 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continued to fall after fixing below 45.00. As a result, quotes reached the lower limit of the downward channel. In case of correction quotations will return to the level of 45.00. Our medium-term outlook remains negative with the closest targets at 43.00 and 40.00, and we expect a continuation of the current price decline.

Nearest resistance levels: 45,00, 46,30, 47,00, 48,50, 50,60, 52,00, 54,00, 56,00, 58,60

Nearest support levels: 43,00, 40,00, 37,30, 36,00, 35,00

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