28.09.2016 - Technical view on commodity futures

The price of gold broke through the support level at 1330 and continued to decline. In the near future quotations may reach the support level at 1315 and then continue downward movement until 1300. According to our estimates, price will resume growth in the near future and the first targets in this case will be 1356 and 1370. Our medium-term outlook remains positive with the objectives at 1400-1430.

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 could not overcome an inclined resistance line and has returned to the important level of 45.00. The signal to buy when resuming growth will be the price fixing above the level of 47.00, and continued rising dynamics until 48.50. In the near future we expect a strong price movement and the first target while reducing, will be 43.00, after which the negative dynamics may continue until 40.00 and 37.30. Our medium-term outlook remains negative.

Nearest resistance levels: 46,30, 48,50, 50,60, 52,00, 54,00

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

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