05.03.2015 - Technical view on commodity futures

The price of gold continues to consolidate near the level of 1200. In the case of continued descending movement, quotations may reach levels of 1190 and 1180, about which the price growth can resume. Signal of trend reversal to positive will be fixation of quotations above 1220. We maintain our positive outlook for the medium-term, but recommend to wait for a signal to open positions.

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 growth and has overcome the level of 52.00. In case of continued growth, the price may rise to 54.00. The breaking of this level is unlikely. According to our estimates, the price will resume the growth in the near future and will reach the target levels 49.00, 45.00 and 40.00. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 54.00.

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

Nearest support levels: 52.00, 50.00, 49.00, 45.00, 43.00, 40.00

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