14.07.2015 - Technical view on commodity futures

The price of gold continues to decline within the descending channel, and according to our estimates will return to the target level of 1150 in the near future, and after its breaking will reach 1143. In case of growth and breaking through the upper limit of the downward channel signal for the opening short position will be price fixing above 1165. Our medium-term outlook remains positive, and we are waiting for the signal to open new positions.

Nearest resistance levels: 1165, 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1150, 1143, 1100

The price of Light sweet crude oil continued to fall and broke through the important support level at 52.00 and in the near future can continue the negative price movement to the target levels at 50.00 and 48.00. Within the correction quotations may reach the level of 54.00 fixing above which the will become a signal about the change of local negative trend to positive. Our medium-term outlook remains negative.

Nearest resistance levels: 52.00, 54.00, 55.00, 57.00, 58.00, 59.25, 60.00, 61.70, 62.70

Nearest support levels: 51.00, 50.00, 48.00, 47.00

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