06.04.2015 - Technical view on commodity futures

The price of gold moves around the level 1220 after some consolidation near the level of 1200. In case of breaking through 1220, we expect further growth of quotations to 1230 and 1256. The signal of changing local uptrend will be fixation of quotations below 1200 and the lower boundary of the rising channel. In such case the price can be reduced to 1180 and 1150. Our medium-term outlook remains positive, but in the near future we may see a correction.

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

Nearest support levels: 1200, 1175, 1150, 1140, 1100

The price of Light sweet crude oil showed a sharp increase and reached the mark of 51.00, and the upper limit of the local descending channel. In the near future, quotes will fall to 48.00, and continues to fall within the channel. We continue to maintain a medium-term negative outlook with the target at 40.00 and recommend holding short positions with a stop above the strong resistance level at 54.00.

Nearest resistance levels: 51.00, 53.00, 54.00, 58.50, 60.00, 64.00

Nearest support levels: 50.00, 48.00, 47.00, 45.00, 44.00, 43.00, 40.00

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