14.10.2014 - Technical view on commodity futures
The price of gold continues to move along the bottom of the local rising channel and after yesterday's correction again has overcome an important level of 1230 in case of further growth, the price will reach the levels 1244 and 1265. Fall is limited by the level of support at 1220. We recommend holding long positions with a stop below 1200 and the target levels 1265, 1290 and 1330. Our medium-term outlook remains positive.
Nearest resistance levels: 1240, 1244, 1252, 1265, 1278, 1290, 1300
Nearest support levels: 1230, 1220, 1200, 1180
The price of Light sweet crude oil stabilized around the level of 84.50 and now has reached the upper limit of the downward channel. In case of breaking and fixing prices above 85.50, quotes, can grow up to 87.00. We look forward to continuing the downward movement with the target near 80.00 and recommend holding short positions with a stop above 87.00. Our medium-term outlook also remains negative.
Nearest resistance levels: 85.50, 87.00, 89.00, 90.00, 92.00, 94.20, 95.00, 95.50
Nearest support levels: 82.50, 80.00