03.06.2015 - Technical view on commodity futures

The price of gold after unsuccessful attempt of growth resumption returned to the level of 1185 and continues to consolidate near this mark. In case of the continuation of the downward movement, quotes will reach the level of 1170, after which the downward movement may continue up to 1150. Our medium-term outlook remains positive and in the near future, we expect continued consolidation within the price range of 1170-1230.

Nearest resistance levels: 1200, 1215, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1185, 1170, 1150, 1140, 1100

The price of Light sweet crude oil was unable to gain a foothold above the level of 61.00, and returned to the downward channel. Currently quotes are located near the psychologically important level of 60.00 and with a high probability will continue to fall to the bottom of the channel and the next targets at 58.00 and 57.00. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 62.70.

Nearest resistance levels: 61.00, 62.70, 64.00, 70.00

Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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