16.03.2015 - Technical view on commodity futures

The price of gold keeps consolidating above 1150 after has reached the lower boundary of the downward channel. In case of continued downward movement, quotes will continue to fall to 1140 and 1100. In the near future the growth of quotations may continue until 1180. The signal of trend reversal to positive will be fixation of quotations above the level 1200. We expect a continuation of price movement inside the descending channel in the near future but maintain a medium-term positive outlook.

Nearest resistance levels: 1165, 1180, 1200, 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1150, 1140, 1100

The price of Light sweet crude oil accelerated the fall to after fixation below 49.00. According to our estimates, quotes will continue to fall to in the near future and will reach 45.00. In case of correction, growth is possible to 49.00 and 50.00. We continue to maintain a medium-term negative outlook with the target at 40.00 and recommend to hold short positions.

Nearest resistance levels: 49.00, 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 45.00, 43.00, 40.00

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