16.09.2014 - Technical view on commodity futures

The price of gold bounced off the bottom of the channel and corrected upwards. At the moment quotes are consolidated below 1240. The signal of trend reversal will be breaking through the upper boundary of the channel and fixing the price above 1252. In the nearest future fall of gold is likely to continue to the levels 1220 and 1200. Despite the current negative trend we expect a resumption of growth in the price of gold 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 rebounded from the psychologically important level of 90.00 and now is consolidating below 92.50. In the nearest future the quotes will likely continue to move within the corridor 90,00-92,50. To break through the lower boundary of the channel and the level of 0.9000 will be required a considerable stimulus. Growth is limited by the upper boundary of descending channel and resistance levels at 94.00 and 95.00. We maintain a medium-term negative outlook for oil.

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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