14.05.2015 - Technical view on commodity futures
The price of gold has broken through upper limit of the downward channel, and showed strong growth within which reached the mark of 1220. The breaking and consolidation of quotes above this mark will be the basis for the continued growth of quotations to 1244 and 1256. At this point quotations corrected downwards and within the fall may decrease to 1200 and 1190. We maintain our medium-term positive outlook, but wait for fixation above 1220 for opening long positions.
Nearest resistance levels are 1210, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels 1190, 1180, 1150, 1140, 1100
The price of Light sweet crude oil corrected to the lower boundary of the rising channel. Amplitude of oscillations is reduced, which indicates a high probability of strong price movement of the price in the near future. For the continuation of growth, quotations must overcome the level of 63,00. More likely is a break through the lower boundary of the channel. Confirmation of the signal to open new positions will become fixing the price below the local minimum at 59.00. We maintain a medium-term negative outlook with the targets of 52,00 and 48,00.
Nearest resistance levels: 63.00, 64.00, 70.00
Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00