30.09.2016 - Technical view on commodity futures

The price of gold dropped to the level of support at 1315, but could not break it, and at the moment is consolidating within the range 1315-1330. In case of continued negative dynamics, we forecast a decline 1300, but overcoming of this level is unlikely. On the other hand, quotations may reach the levels of 1330-1340, after which the following targets will be in 1356 and 1375. Our medium-term outlook remains positive in the near future.

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 corrected downwards after the recent reaching of an important resistance level at 48.50. In case of resumption of growth and overcoming this mark, we expect further growth of quotations to the levels 50,00-50,60. The probability of continuation of correction is high, and after breaking of support at 47.00, 45.00 and 43.00 the nearest targets will be. Our medium-term outlook remains negative and we are waiting for the price reduction in the near future.

Nearest resistance levels: 46,30, 48,50, 50,60, 52,00, 54,00

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

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