09.06.2014 - Technical view on commodity futures
The price of gold continues to consolidate around a strong level of 1252. Fall is limited by the support at 1242. For continued price growth, is necessary to gain a foothold above 1265. In such case the closest target will be 1278. We maintain a long-term positive outlook for gold.
Nearest resistance levels: 1265, 1278, 1290, 1305, 1316, 1330, 1350
Nearest support levels: 1244, 1220, 1220, 1180
The price of Light sweet crude oil failed to fix below 101.90, exited from a local downtrend channel and now is consolidated within the corridor 101,90-102,50. To continue the downward movement, the price needs to fix below 101.90. We keep medium and long term negative outlook for oil.
Nearest resistance levels: 102.50, 103.00, 104.00, 104.60, 105.00
Nearest support levels: 101.90, 101.00, 100.40