09.09.2014 - Technical view on commodity futures

The price of gold broke the lower limit of the downward channel and reached the nearest support level at 1252. In case of further reduction within the local descending channel the closest target will be 1244. The growth is limited by the upper border of the channel and the level of 1278. We expect a further decline in the price of gold in the near future, but we expect the growth of quotations in the medium term.

Nearest resistance levels: 1265, 1278, 1290, 1300, 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1252, 1244

The price of Light sweet crude oil has reached the target level of 92.00, but was unable to gain a foothold above it and continues to consolidate above this mark. The potential for further fall declined, but in the near future we will probably see a continuation of the downward trend. Correction is possible to the level of 94.00. We maintain a medium-term negative outlook for oil.

Nearest resistance levels: 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00, 101.60, 103.00

Nearest support levels: 92.00, 91.60, 91.00, 90.00

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