06.05.2015 - Technical view on commodity futures

The price of gold broke through the upper limit of the downward channel, and after fixing the price above the level of 1185 continued to rise to 1200. Overcoming this level can serve as a basis for the continued growth of quotations to the levels of 1210 and 1220. The drop in prices is limited by the support levels at 1170 and 1150. Our medium-term outlook remains positive, but in the near future the price may continue to decline.

Nearest resistance levels are 1210, 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels 1190, 1180, 1150, 1140, 1100

The price of Light sweet crude oil after a long consolidation around the level 60.00, continued growth inside the rising channel and in the near future is likely to reach the level of 64,00. In case of correction, quotes can return to 60.00 and the lower boundary of the rising channel. The breaking of the bottom of the channel and fixing below the local minimum around 59.00 will be a signal to open short positions. Our medium-term outlook for oil remains negative, but growth may continue in the near future.

Nearest resistance levels: 64.00, 70.00

Nearest support levels: 60.00, 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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