29.02.2016 - Technical view on commodity futures

The price of gold has shown decline on Friday after some time consolidated below 1244. Fixing above this mark will lead to a continuation of the upward price movement with the first targets at 1256 and 1265. In case of renewal of negative dynamics, confirmation of signal to sell will be fixing the price below the level of 1200. Our medium-term outlook remains negative, despite a possible rise in the near future.

Nearest resistance levels: 1244, 1256, 1280, 1300

Nearest support levels: 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065

The price of Light sweet crude oil after reaching the strong resistance level at 35.00, resumed the fall within which has broken through the lower boundary of the channel. At the moment, quotations reached the level of 33.00 and its overcoming will be the cause for future decline with the first targets at 31.00, 30.00 and 28.00. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 35.00.

Nearest resistance levels: 35.00, 36.00, 38.00, 40.00, 40.75, 42.00

Nearest support levels: 33.00, 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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