06.02.2015 - Technical view on commodity futures

The price of gold continues to consolidate within the triangle. At the moment, quotes approached to the upper boundary of the triangle. A signal to buy will be fixing the price above the level of 1275, which is a local maximum. In this case, quotes will grow up to 1300. The short position should be opened after fixing the price below 1255. We maintain our medium-term positive outlook and recommend to wait a signal for opening positions.

Nearest resistance levels: 1275, 1300, 1330, 1350

Nearest support levels: 1255, 1244, 1230, 1215, 1200, 1180, 1140

The price of Light sweet crude oil compensated the previous decline and returned to the strong resistance level at 53.00. In the case of overcoming the mark, the price will continue to rise to 54.00. At the moment there is a high probability of downward movement with the potential of reduction up to 50.00 and 48.00. Our medium-term outlook remains negative and we expect a decrease of quotations in the near future.

Nearest resistance levels: 53.00, 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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