10.12.2014 - Technical view on commodity futures

The price of gold accelerated the growth and reached the upper limit of the channel. At the moment, the quotes are consolidated near the level of 1230, and probably will continue the upward movement along the upper boundary of the channel. At the moment, there is a possibility of price reduction within the channel to its lower boundary and an important level of 1200. We maintain our medium-term positive outlook and recommend holding long positions.

Nearest resistance levels: 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1220, 1210, 1180, 1140, 1120, 1100

The price of Light sweet crude oil fixed below the level of 64.00 and continues to fall along the inclined line of resistance. According to our estimates in the near future quotes will continue to fall with the first target at 60.00. Growth is limited by the level of 64.00. We recommend holding short positions with a stop above 66.00 and save a medium-term negative outlook.

Nearest resistance levels: 64.00, 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00

Nearest support levels: 63.00, 60.00

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