15.08.2014 - Technical view on commodity futures

The price of gold continues to consolidate near the level of 1310. The amplitude of price fluctuations declines and in the near future we can see a strong price movement. For continued growth the price needs to overcome the level of 1320. Fall is limited by the support at 1290. Our medium-term outlook remains positive.

Nearest resistance levels: 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1310, 1300, 1290, 1278, 1265, 1252, 1244

The price of Light sweet crude oil after a long consolidation above 96.00, has broken through this level and began to decline sharply. After reaching the level of 94.00 there is the probability of a technical rebound of price to levels of 94.50 and 95.00. We expect continued downward movement of price in the medium term, with a target near 92.00.

Nearest resistance levels: 95.20, 96.00, 98.00, 100.00, 101.60, 103.00, 103.50

Nearest support levels: 94.00, 92.00

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