08.07.2015 - Technical view on commodity futures

The price of gold after some consolidation near the level of 1170, continued to fall within the downtrend channel and reached the mark of 1150. In case of continued growth the price may fall to 1143, but more likely is a soon resumption of growth with the first targets at 1170, 1190 and 1205. We expect the growth of price the medium term, but in the near future may see a further fall.

Nearest resistance levels: 1170, 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1150, 1143, 1100

The price of Light sweet crude oil has reached the target level of 52.00 and currently is consolidating above it. Now the price is moving within a local descending channel and after breaking of 52.00 will continue to fall to 50.00 and 48.00. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 57.00.

Nearest resistance levels: 54.00, 55.00, 57.00, 58.00, 59.25, 60.00, 61.70, 62.70, 64.00

Nearest support levels: 52.00, 51.00, 50.00, 48.00, 47.00

XTI/USD Index of May 19

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