10.07.2014 - Technical view on commodity futures
The price of gold climbed to the upper limit of the side corridor 1310-1330 and in order to continue the upward movement will need to break and gain a foothold above this level. Correction within the corridor is possible to 1310. We expect continued growth in prices in the medium term with the objectives of 1350 and 1365.
Nearest resistance levels: 1330, 1350, 1365
Nearest support levels: 1310, 1300, 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil broke the lower boundary of the local downward channel and a strong support level near 102.00, which gives reason to expect further price reduction, which may slow down in the area of 100.50. We expect a further decline in the medium term with a possible correction to 101.90.
Nearest resistance levels: 101.90, 102.50, 103.00, 103.50, 104.00, 104.60, 105.00
Nearest support levels: 100.50, 99.60