30.11.2015 - Technical view on commodity futures
The price of gold after a long consolidation between the support level at 1065 and the upper boundary of the channel has broken through the level of 1065 and has continued to fall. In the near future fall within the channel may continue to 1050 and 1040. The growth of quotations is limited by the boundary of the channel, a breaking of which will lead to the continuation of the upward movement of the price up to 1080. We expect a continuation of the downward movement of prices in the near future.
Nearest resistance levels: 1065, 1080, 1095, 1100, 1120, 1140, 1150, 1165, 1190, 1205
Nearest support levels: 1050, 1040, 1000
The price of Light sweet crude oil decreased to the desired level of 42.00 after again failed to overcome the resistance at 43.65. Overcoming the level of 42.00 will be the basis for further price reduction to 41.00, 40.00 and 38.00. At the same time, the price can rebound upwards and reach a local maximum at 43.65. We predict decline of price in the medium term and expect a high level of volatility in the near future.
Nearest resistance levels: 43.65, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50
Nearest support levels: 42.00, 40.00, 38.00