29.08.2016 - Technical view on commodity futures

The price of gold has shown a strong rise in volatility, but within the growth was not able to overcome the resistance level at 1330 and resumed its decline. Currently quotes are around the level of 1315 and fixation below it will become the basis for a further decline with the objectives 1300 and 1280. The growth in the near future is limited by the level of 1330 and the upper border of the channel. We maintain our medium-term positive outlook, but the current decline may continue in the coming weeks.

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 continued consolidation within the range 46,30-48,50. The rise in prices above the level of 48.50, is less likely and we expect a continuation of the negative dynamics in the near future. Confirmation of the signal to sell with targets at 42.00 and 40.00 will be fixation below 46.30. Our medium-term outlook remains negative.

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

Nearest support levels: 46,30, 45,00, 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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