28.03.2016 - Technical view on commodity futures

The price of gold continues to gradually decline after breaking through the important support levels at 1244 and 1230. In the near future quotes will be reduced to 1200 and overcoming this psychologically important level will be a signal for further fall of prices with potential targets at 1165 and 1140. Our medium-term outlook remains negative and the correction in the near future is possible until 1230.

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

Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil corrected upwards to 40.00. Currently quotes are consolidated around this mark, and in the near future can reach an inclined resistance line. In the near future it is likely to resume the fall, and in this case target levels will become 37.30 and 34.00. Our medium-term outlook remains negative with a high probability of continuing the current negative dynamics.

Nearest resistance levels: 40.00, 42.00, 44.00, 45.00, 49.00

Nearest support levels: 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00

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