06.06.2014 -​ Technical view on commodity futures

The price of gold was not able to continue further reduction and corrected upwards. At the moment the price is consolidating near the level of 1252, and will probably continue the upward movement. On the chart has formed the figure of "flag", which is a signal of trend continuation. In case of resumption of downward movement the quotes can reach 1244 and 1220. We maintain a long-term positive outlook for gold.

Nearest resistance levels: 1265, 1278, 1290, 1305, 1316, 1330, 1350

Nearest support levels: 1244, 1220, 1220, 1180

The price of Light sweet crude oil continues to consolidate near the strong level of 102.00 and moves within the local downward channel. To continue the downward movement with the target near 101.00, the price needs to fix below 101.90. Growth is limited by the resistance at 102.50. We expect a further fall within the channel and keep a medium-term and long-term negative outlook for oil.

Nearest resistance levels: 102.50, 103.00, 104.00, 104.60, 105.00

Nearest support levels: 101.90, 101.00, 100.40

April 30 of USD Performance

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