29.07.2016 - Technical view on commodity futures

The price of gold has shown a rise in volatility and at the moment continues to consolidate above the level of 1330. Fixing above this mark will be the basis for the continuing rising dynamics of quotations with potential targets at 1350 and 1370. In case of the continuation of the current decline, the closest targets will be 1315 and 1300. Our medium-term outlook remains positive with growth potential to 1400.

Nearest resistance levels: 1350, 1370, 1400, 1430, 1450

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil continues to decline within the local descending channel and recently was able to break through the support level at 43.00. The next target is the psychologically important mark at 40.00, after reaching which we expect a rebound. Within the correction quotation can bounce to 43.00 and 45.00. Our medium-term outlook remains negative, despite the increase in the probability of upward correction.

Nearest resistance levels: 43,00, 45,00, 46,30, 47,00, 48,50, 50,60, 52,00, 54,00, 56,00

Nearest support levels: 40,00, 37,30, 36,00, 35,00

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