29.03.2016 - Technical view on commodity futures

The price of gold continues to consolidate around the level of 1220. In the case of continued negative dynamics, closest target will be 1200, after overcoming of which, the decline will continue until 1165 and 1140. In case of correction, quotations may return to the level in 1230 and 1244. Our medium-term outlook remains negative and after fixing below 1230 we expect further decline of price.

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 after the recent correction within which reached the level of 40.00, resumed its decline and in the near future is likely to continue descending dynamics of price with the objectives of 37.30 and 34.00. On the other hand, the breaking through the inclined line of resistance and the level of 40.00, will be the reason for future price growth with potential targets at 42.00 and 44.00. Our medium-term outlook remains negative and we with a high probability expect the fall in the near future.

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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