17.04.2015 - Technical view on commodity futures

The price of gold is consolidated near the level of 1200 and will likely continue such a movement in the near future. After a long consolidation, we forecast a strong price movement. Signal for opening long positions will be fixing the price above the level of 1220. On the other hand, fixing the quotations below 1180, will be the basis for the continuation of a downward movement with the objectives near 1150. Our medium-term outlook remains positive, but we expect a confirmation of the signal to open new positions.

Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1200, 1190, 1180, 1150, 1140, 1100

The price of Light sweet crude oil reached the level of 58.00 and is consolidated near this mark. At the same time quotes are near the upper boundary of the local rising channel. At the moment, there is a high probability of a downward price correction with the first target at 54.00. On the other hand in the near future quotations may reach the mark of 60.00. We maintain our medium-term negative outlook on oil and recommend to wait for a sell signal.

Nearest resistance levels: 58.50, 60.00, 64.00

Nearest support levels: 55.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00, 43.00

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