10.06.2015 - Technical view on commodity futures
The price of gold has broken through upper limit of the descending channel and has overcome the resistance level at 1180. In the near future quotations may continue the upward movement of the price to the level of 1195, fixing above which will be the basis for the continued growth of quotations to 1215 and 1230. Falling the prices in the near future is limited by the levels 1170 and 1150. We keep medium-term positive outlook for gold, but do not exclude the fall of prices in the near future.
Nearest resistance levels: 1195, 1200, 1215, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1170, 1150, 1140, 1100
The price of Light sweet crude oil shows the steady growth after failing to overcome the support level at 57.00. In the near future quotations may reach the local maximum at 62.70 and resistance at 64.00, but more likely is the resumption of the downward movement of the price in the near future. We recommend accumulating short positions with the targets at 58,00 and 57,00 and with a stop above 63.00. Our medium-term outlook remains negative.
Nearest resistance levels: 62.70, 64.00, 70.00
Nearest support levels: 61.00, 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00