04.03.2015 - Technical view on commodity futures

The price of gold could not break through the lower boundary of the local rising channel and the psychologically important level of 1200. In case of further fall quotations may reach the level of support at 1190 and 1180. Breaking the inclined resistance line and fixing the price above the strong level of 1220 will confirm the buy signal with growth potential to 1244, 1256 and 1300. We maintain a positive outlook for the medium-term, but we recommend to wait for the confirmation of the signal.

Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1200, 1180, 1140

The price of Light sweet crude oil continued the growth and approached the level of 52.00. Break through this mark will be the basis for further increase with the objectives of 53.00 and 54.00. Despite the current growth, we expect the resumption of the downward price movement in the near future with the potential drop to 49.00, 45.00 and 40.00. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 54.00.

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

Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00

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