15.09.2014 - Technical view on commodity futures

The price of gold decreases along the bottom of the channel. Today quotations rebounded from the level of 1230. In case of continuation of correction, the price can reach 1244 and the upper limit of the channel. The most likely scenario is a continuation of the downward movement with the objectives of 1220 and 1200, where purchases can be resumed. We expect the resumption of growth in the medium term.

Nearest resistance levels: 1244, 1252, 1265, 1278, 1290, 1300, 1320, 1330, 1340, 1350

Nearest support levels: 1220, 1200, 1180

The price of Light sweet crude oil has failed to overcome the resistance at 92.50 and began a sharp decline. Currently quotations approached the level of a local minimum near 90.00. To overcome this level of support will be needed substantial stimulus. Growth is limited by the levels of 92.50 and 94.00. We maintain a medium-term negative outlook, but note the declining potential of reduction.

Nearest resistance levels: 91.00, 91.60, 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00

Nearest support levels: 90.00, 89.00, 87.50

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