05.08.2014 - Technical view on commodity futures

The price of gold continues to consolidate near the level of 1290 and is moving inside the descending channel. In the coming days, the price is likely to continue to move in this channel. Signals to open positions will be fixing the price below 1278 or above 1310. We maintain a positive outlook for the medium-term, but assume the possibility of the continuation of the downward movement in the near future.

Nearest resistance levels: 1310, 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1290, 1278, 1265, 1252, 1244

The price of Light sweet crude oil after reaching the bottom of the channel and the level of 97.00 rebounded upwards and consolidates below 98.00. In case of further correction, quotes, will reach the levels of 98.50 and 100.00. In the near future, the price is likely to continue to move near the level of 98.00. We maintain a medium-term negative outlook with the target at 92.00.

Nearest resistance levels: 98.50, 100.00, 101.60, 103.00, 103.50, 104.00, 104.60

Nearest support levels: 96.60, 95.20, 94.00, 92.00

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