26.08.2016 - Technical view on commodity futures

The price of gold shows a slight increase within the correction after the recent decline. It should be noted that the breaking through the important support level at 1330 was a signal to sell with targets at 1315, 1300 and 1280. According to our estimates, the growth in the near future is limited by the upper limit of the downward channel. Today we expect a strong increase in volatility. Despite the probable continuation of the negative dynamics, we maintain a positive outlook for the medium-term with the target at 1400.

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 increased slightly within the consolidation. The growth in the near future is limited by the levels of resistance at 48.50 and 50.00. In case of breaking through support at 46.30, we expect the decline to 43.00 and 40.00. Our medium-term outlook remains negative and we look forward to the resumption of the negative dynamics in the near future.

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

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

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