08.05.2015 - Technical view on commodity futures

The price of gold reached the level of 1180, but was not able to continue the growth and at the moment corrected upward. In case of continued downward movement, quotes reach the level of 1170, and then may fall to 1150. In case of the resumption of growth, a buy signal will be fixing the price above the local maximum of 1200. Further growth is limited by the levels of 1210 and 1220. Our medium-term outlook remains positive, but the fall may continue in the near future.

Nearest resistance levels: 1190, 1210, 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1180, 1150, 1140, 1100

The price of Light sweet crude oil broke through the lower boundary of the rising channel and currently is consolidating above 59.00. The breaking of this mark will become a signal for opening short positions with the targets at 54.00, 52.00 and 48.00 and stop above the local maximum of about 63.00. Currently quotations may show a slight increase and then we with a high probability expect a fall in the price of oil.

Nearest resistance levels: 63.00, 64.00, 70.00

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

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