09.02.2015 - Technical view on commodity futures

The price of gold declined sharply and reached the level of support at 1230 and the bottom of the channel. At the moment, the quotes corrected upwards after the rebound from the level of 1230. In case of overcoming the level of 1244, we expect further growth with the potential of increase up to 1256 and 1265. Our medium-term outlook remains positive and in the near future we expect growth within the channel.

Nearest resistance levels: 1244, 1256, 1275, 1300, 1330, 1350

Nearest support levels: 1230, 1215, 1200, 1180, 1140

The price of Light sweet crude oil continues to show strong volatility. Recently, quotes reached a strong resistance level at 54.00, but could not overcome it and began to correct downwards. At the moment there is a good opportunity to open short positions on oil with a stop above 54.00, and target levels at 50.00 and 48.00. We maintain our medium-term negative outlook, and recommend to open short positions.

Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00

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