28.04.2016 - Technical view on commodity futures

The price of gold continued to rise after fixed above the level of 1244. Fixing of price above that level was a signal for the continuation of rising dynamics with targets at 1265 and 1280. In case of renewal of negative dynamics quotes will reach the lower boundary of the channel and fixing of price below 1230 will confirm the signal to sell. According to our estimates, the current growth will continue in the nearest future, but the medium-term outlook remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil has shown an increased level of volatility yesterday, but after failing to decline, continued to rise. It is worth noting that the quotes were able to overcome the level of 45.00 and fixation above it leads to a continuation of the growth to 47.00 and 49.00. According to our estimates, the current growth may continue in the near future, but the probability of a substantial correction has increased significantly. Our forecast for the coming months remains negative.

Nearest resistance levels: 45.00, 49.00, 50.00, 51.50

Nearest support levels: 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00

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