02.07.2014 - Technical view on commodity futures

The price of gold after reaching the target level of 1330 continues to consolidate around the level of 1325. It is worth noting that the price volatility significantly decreased. Increase in volatility is expected after the release of data on the U.S. labor market tomorrow. We maintain our positive outlook for the medium-term and recommend holding long positions with targets at 1350 and 1365.

Nearest resistance levels: 1330, 1350, 1365

Nearest support levels: 1320, 1310, 1300, 1290, 1278, 1265, 1252, 1244

The price of Light sweet crude oil continued to decline in the descending channel. After reaching the bottom of the channel, the price has returned to the level of 105.00, near which continues to consolidate now. In case of resumption of growth, a signal to buy will be fixing the price above 105.50. A signal to sell will be fixing of quotations below 104.00.

Nearest resistance levels: 107.00, 108.00, 110.00

Next support levels: 105.00, 104.60, 104.00, 103.00, 102.50, 101.90

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