11.03.2015 - Technical view on commodity futures

The price of gold gradually decreases inside the descending channel. At the moment, the quotes are consolidated near the level of 1160. In case of continued downward movement the price may continue to fall until 1140. The potential for further drop is limited by the levels of 1140 and 1100. We maintain our medium-term positive outlook and recommend to open long positions after fixing the price above 1200.

Nearest resistance levels: 1165, 1180, 1200, 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1140 1100

The price of Light sweet crude oil shows a steady downtrend and is currently located near the important level of 50.00. For the continuation of descending movement with the potential fall to 45.00 and 40.00, the price must be fixed below the level of 49.00. In case of correction, quotations may grow to 53.00 and 54.00. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 54.00.

Nearest resistance levels: 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 50.00, 49.00, 45.00, 43.00, 40.00

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