18.12.2014 - Technical view on commodity futures

The price of gold continues to consolidate near the level of 1200. For the resumption of growth, the price needs to overcome the sloping resistance line. Fall is still limited by a strong level of 1180. We expect the growth of quotations of gold in the near future with the objectives of 1244 and 1252, recommend to keep long positions and maintain a medium-term positive outlook.

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

Nearest support levels: 1180, 1140, 1120, 1100

The price of Light sweet crude oil has broken through the inclined resistance line and now is trying to gain a foothold above this mark. Further growth of the price within the correction is limited by a strong level of 60.00. Despite the current upward movement, we expect the resumption of fall of quotations in the near future and maintain the medium-term negative outlook and recommend holding short positions with a stop above 60.00.

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

Nearest support levels: 55.00, 54.50, 50.00

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