15.07.2015 - Technical view on commodity futures
The price of gold still decreases along the upper boundary of the descending channel and may soon return to the level of 1150. The price fixing below this level will become the basis for the continuation of the downward movement to 1100. On the other hand there is a possibility of breaking the upper boundary of the channel and in this case, a buy signal will be fixing of quotations 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 corrected upwards after has not been able to gain a foothold below the level of 52.00. As a result, quotations reached a strong resistance level at 54.00 and the upper limit of the downward channel. The breaking and fixing the price above these levels will be the basis for the growth of quotations to the target levels at 57.00 and 59.00. More likely is the return of oil prices to the level of 52.00 and the continuation of the downward price movement to the downward channel. Our medium-term outlook remains negative.
Nearest resistance levels: 54.00, 55.00, 57.00, 58.00, 59.25, 60.00, 61.70, 62.70
Nearest support levels: 52.00, 51.00, 50.00, 48.00, 47.00