03.02.2015 - Technical view on commodity futures

The price of gold continues to rise gradually after rebounded from a strong support level at 1252. At the moment, quotations are trying to overcome the inclined resistance line. In case of success, the price will reach 1300 in the nearest future. Fall is limited by the level of 1252. We maintain our medium-term positive outlook, but note that for the continued growth the price must break through the psychologically important level of 1300.

Nearest resistance levels: 1300, 1330, 1350

Nearest support levels: 1278, 1265, 1252, 1244, 1230, 1215, 1200, 1180, 1140

The price of Light sweet crude oil after some consolidation around the level of 47.50, continued to grow and has overcome the level of 50.00, which was the signal for the fixation of short positions. Further growth is limited by the level of 54.00, after reaching of which we can see the resumption of the downward price movement. Despite the current upward movement which may continue in the near future, we keep negative medium-term outlook for oil.

Nearest resistance levels: 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 50.00, 47.50, 45.00, 43.00, 40.00

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