03.12.2014 - Technical view on commodity futures

The price of gold after returning to the rising channel, fixed above the lower boundary, indicating that the further growth of quotations within the channel in the coming days. The intersection of SMA50 and SMA200 will be an additional signal to buy gold. We recommend holding long positions with a stop below the 1180 and target levels at 1244 and 1252. Our medium-term outlook remains positive.

Nearest resistance levels are 1220, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1200, 1180, 1140, 1120, 1100

The price of Light sweet crude oil after adjusting the price to the level of 70,00 continued gradual decline along the inclined line of resistance. The rise in prices is limited by the level of 70.00, a breaking of which soon is unlikely. Today is expected the increase in price volatility. We predict that in the near future quotes will continue to fall with the closest target near 64.00. Our medium-term outlook remains negative with the objectives near 60.00.

Nearest resistance levels: 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00, 84.00

Nearest support levels: 64.00, 63.00, 60.00

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