06.01.2015 - Technical view on commodity futures

The price of gold increased and reached the level of 1210. In case of continued growth and securing of quotations above this mark, we expect rise in prices to the levels of 1230, 1244 and 1252. The fall is limited by the support level at 1180 and 1170. We keep positive medium-term outlook for gold and recommend to accumulate long positions.

Nearest resistance levels: 1210, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1180, 1170, 1140, 1120, 1100

The price of Light sweet crude oil after breaking the lower limit of the downward channel has reached the target level of 50.00. At the moment, quotes are trying to gain a foothold below this mark. Despite the likelihood of the price rebound from this level with the upside potential to 52.00 and 54.00, we expect a continuation of the current dynamics with the objectives of 45.00 and 40.00. Our medium-term outlook remains negative due to the steady downward trend.

Nearest resistance levels:: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00, 72.00

Nearest support levels: 48.50, 46.00, 45.00, 40.00

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