06.08.2014 - Technical view on commodity futures

The price of gold after a sharp decline yesterday continues to consolidate around the level of 1290, we expect that in the near future the price will continue to move in the downward channel. Signal to open positions will be fixing the quotes beyond the channel and above 1310 or below 1278. We maintain a medium-term negative outlook for gold.

Nearest resistance levels: 1310, 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1290, 1278, 1265, 1252, 1244

The price of Light sweet crude oil after an upward corrective movement resumed falling and now is consolidating near the level of 97.00. The growth to top of the channel is possible in case of overcoming and consolidation above the level of 98.00. We maintain a medium-term downward forecast to 92.00.

Nearest resistance levels: 98.00, 100.00, 101.60, 103.00, 103.50, 104.00, 104.60

Nearest support levels: 96.60, 95.20, 94.00, 92.00

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