25.08.2016 - Technical view on commodity futures

The price of gold continued to decline after failed to break through the important support level at 1330. This fact is the basis for the continuation of negative dynamics of price with targets at 1315 and 1300. In case of resumption of growth, the closest targets will be 1356 and 1375. We maintain our medium-term positive outlook, but we can see the continuation of the negative dynamics in the near future.

Nearest resistance levels: 1330, 1356, 1375, 1400, 1430, 1450

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

The price of Light sweet crude oil corrected sharply upwards after the recent decline and reached the bottom of the channel, which has left earlier and the level of 48.50. Fixation lower than these levels was a confirmation of the sell signal with the closest targets at 45.00 and 43.00. Growth in the near future is limited by resistance levels at 48.50 and 50.00. Our medium-term view remains negative and chance of falling is high in the near future.

Nearest resistance levels: 48,50, 50,60, 52,00, 54,00

Nearest support levels: 47,00, 46,30, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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