04.02.2015 - Technical view on commodity futures
The price of gold corrected downwards after some consolidation near the level of 1278, but at recently rebounded from the lower boundary of the local descending channel and are most likely to continue to rise to the level of 1278. In case of continued downward movement of price within the channel, the closest targets will be 1252, and 1244. Our medium-term outlook remains positive with the objectives of 1330 and 1350, but in the nearest future a drop in prices may continue.
Nearest resistance levels are 1265, 1278, 1300, 1330, 1350
Nearest support levels: 1252, 1244, 1230, 1215, 1200, 1180, 1140
The price of Light sweet crude oil shows steady growth, which intensified due to fixation of short positions. The nearest resistance level for the price is 54.00. In case of consolidation of quotations above this mark, is expected the continued increase to 60.00. In the near future we are likely to see a decrease in quotations within the correction after the strong growth. Target level at the same time will be 50.00. We maintain our medium-term negative outlook, but admit the possibility of growth of quotations in the nearest future.
Nearest resistance levels: 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