27.07.2016 - Technical view on commodity futures

The price of gold continues to consolidate within local descending channel and is located above the support level at 1315. Overcoming this level will be the basis for the continuation of negative dynamics of price to 1300 and 1280. In case of breaking through the upper boundary of the channel, quotes will continue to rise until 1330 and 1350. Volatility today will be increased. Our medium-term outlook remains positive, but fall within the channel may continue in the near future.

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 slightly increased after a strong reduction and overcoming the downward channel's lower border. Currently quotes are near the level of 43.00 and can correct to 45.00. The fall in the near future may continue until 40.00. Our medium-term outlook remains negative and we expect a rise in volatility today.

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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