11.09.2014 - Technical view on commodity futures

The price of gold has overcome the strong level of 1252, and reached the next target level of 1244 in case of reduction below this point, the price is likely to fall to 1220 and 1200. It is worth noting that at the moment the price is consolidating at the lower boundary of the falling channel and for the resumption of growth it should return into its frames. We expect a further reduction of the price, but expect the resumption of growth in the medium term.

Nearest resistance levels: 1252, 1265, 1278, 1290, 1300, 1320, 1330, 1340, 1350

Nearest support levels: 1244, 1220, 1200, 1180

The price of Light sweet crude oil after fixation below 92.50 continued to fall and reached the lower limit of the downward channel. According to our estimates, in the near future quotes will reach the important level of 90,00. Growth is limited by the resistance at 94.00 and 95.50. We recommend holding short positions with a stop above 93.00. Our medium-term outlook also remains negative.

The nearest resistance levels: 91.60, 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00

The next support levels: 91.00, 90.00

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