09.10.2014 - Technical view on commodity futures
The price of gold has broken through the level of 1220, and continued to grow. Fixing the price above $ 1220 will be a signal to open long positions with the targets 1265, 1290 and 1330. In case of resumption of decline, the price may fall to the levels of 1180-1200. We recommend accumulating long positions and maintain a medium-term positive outlook for gold.
Nearest resistance levels: 1230, 1240, 1244, 1252, 1265, 1278, 1290, 1300
Nearest support levels: 1220, 1200, 1180
The price of Light sweet crude oil continues to consolidate near the lower boundary of the descending channel and the level of 87.00. To continue reduction the price needs to consolidate below these levels. At the moment there is a high probability of ascending correction with the target near 90.00. Fixing the price above this mark will be a signal to close short positions. We expect further price decline in the descending channel and recommend holding short positions.
Nearest resistance levels: 89.00, 90.00, 92.00, 94.20, 95.00, 95.50, 96.00, 98.00, 100.00
Nearest support levels: 87.00, 85.00