18.03.2015 - Technical view on commodity futures

The price of gold has broken through the strong support level 1150 and in the near future may continue to fall to the levels 1140 and 1100. The growth of prices is limited by the levels of 1170 and 1200. The signal of a trend change and necessity of opening long positions will be fixing quotations above 1200. We maintain our positive outlook for the medium-term, but in the near future will probably see a continuation of the downward movement.

Nearest resistance levels are 1150, 1165, 1180, 1200, 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1140, 1100

The price of Light sweet crude oil reached the target level of 45.00 and has broken through it. In case of continued descending movement, we expect reaching the levels of 43.00 and 40.00. Within the correction, quotations may grow to 47.00 and 49.00. Today is expected the increase in price volatility. We recommend holding short positions with a target at 40,00 and save medium-term negative view on oil.

Nearest resistance levels: 45.00, 47.00, 49.00, 50.00, 52.00, 54.00, 58.50, 60.00, 64.00

Nearest support levels: 43.00, 40.00

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