31.03.2016 - Technical view on commodity futures

The price of gold after rising to an inclined resistance line and an important mark at 1244 resumed the fall and is now trying to gain a foothold below the level of 1230. It should be noted that the quotations may fall to psychologically important mark of 1200 in the near future, after which the decline will probably continue to 1165 and 1140. Growth in the near future is limited by the resistance at 1244. We maintain our medium-term negative view on gold.

Nearest resistance levels: 1230, 1244, 1280, 1300, 1315, 1330

Nearest levels of support: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil has shown strong growth as a result of which broke through the inclined resistance line, but failed to gain a foothold above it and at the moment continues to decline. The next upside target level is 37.30, and after overcoming it, the quotes will fall to 34.00 and 31.00. The growth is limited by the psychologically important mark at 40.00. Our medium-term outlook remains negative and the current decline is very likely to continue in near future.

Nearest resistance levels: 40.00, 42.00, 44.00, 45.00, 49.00

Nearest support levels: 38.00, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00

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