30.08.2016 - Technical view on commodity futures

The price of gold after the recent upward rebound of price, renewed decline and in the case of breaking the support level at 1315, will continue to decline to 1300. The growth in the near future is limited by the resistance level at 1330, and the upper border of the channel. According to our estimates, the decline may continue in the near future, but the medium-term outlook remains negative with potential targets 1400-1430.

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 moves within the range 46,30-48,50. In case of continued negative dynamics and fixing of price below the level of 46.30, the decline will continue until the 43,00 and 40,00. The upward movement in the near future will be limited by the levels of 48.50 and 50.00. Our medium-term outlook is negative and we expect decline in the near future.

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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