11.02.2015 - Technical view on commodity futures

The price of gold is consolidated within the corridor 1230-1244. At the moment, quotes show a slight increase and in case of consolidation above the level of 1244 will continue the upward movement with the first targets at 1256 and 1280. In case of fixing of quotations below 1230, we forecast a drop to the level of 1200. Our medium-term outlook remains positive and we recommend accumulating long position with a short stop below 1230.

Nearest resistance levels: 1244, 1256, 1275, 1300, 1330, 1350

Nearest support levels: 1230, 1215, 1200, 1180, 1140

The price of Light sweet crude oil corrected down, and at the moment is trying to overcome a sloping support line. Further fall is limited by the psychologically important mark on 50.00. In case of resumption of growth, quotations may reach the level of resistance at 54.00, but overcoming this mark is unlikely. We maintain our medium-term negative outlook and recommend holding short positions with the first targets at 48,00 and 45,00.

Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00

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