29.10.2015 - Technical view on commodity futures

The price of gold showed a strong increase in volatility, and after reaching the level of 1180, and began to decline and returned to the local downtrend channel. According to our estimates, the price will fall to the level 1150 in the near future, after which may reach 1140. The growth of price in the near future is possible to the level of 1190, after which the upward movement may continue to 1200 and 1215. According to our forecasts, quotes will continue to consolidate close to the current levels in the near future.

Nearest resistance levels: 1165, 1190, 1205, 1215, 1230

The next support levels 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100

XAU and USD Index Graph

The price of Light sweet crude oil after reaching the level of 43.00, started a steady growth and reached the mark of 46.00 around which is consolidating at the moment. Overcoming local maximum at 45.00 was a signal to close short positions and the current upward momentum may lead to a further increase in price to the levels 47.00 and 48.00. Our medium-term outlook remains positive, despite the likely increase in prices in the near future.

Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 45.00, 44.00, 42.00, 40.00, 38.00

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