16.12.2014 - Technical view on commodity futures

The price of gold declined sharply and has broken the lower boundary of the rising channel. At the moment, quotes rebounded from the level 1190 and consolidate below 1200. Further reduction is limited by the level of 1180. We maintain our medium-term positive outlook and recommend accumulating long positions with a stop below 1180 and objectives 1244 and 1252.

Nearest resistance levels: 1215, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1180, 1140, 1120, 1100

The price of Light sweet crude oil updated minimum after it failed to overcome the sloping resistance line and resumed falling. At the moment, the quotes have reached a level of 56.00 and is likely to continue to fall with the closest reference point 54.00. We recommend holding short positions with a stop above 60.00 and save a medium-term negative outlook.

Nearest resistance levels: 57.00, 60.00, 64.00, 68.00, 70.00, 72.00, 74.00, 76.00, 76.70

Nearest support levels: 54.00, 50.00

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