19.11.2014 - ​Technical view on commodity futures

The price of gold continues to grow along the upper border of the rising local channel and is approaching an important level of 1200. After overcoming this level we expect continued growth to 1220 and 1230. The decline is limited by the lower boundary of the channel and the strong support level at 1180. We are forecasting an increase of the price in the medium term and recommend holding long positions.

Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1180, 1140, 1120, 1100

The price of Light sweet crude oil after reaching the upper limit of the downward channel and an unsuccessful attempt to overcome the resistance at 76.00, started to decline and reached a local minimum near 74.00. We expect a further decline of quotations after breaking through the level 74.00. Target levels in case of further fall will be 72,00 and 70,00. A signal of the negative trend change will be fixing the price above 80.00. We maintain a medium-term negative outlook.

Nearest resistance levels: 76.70, 79.40, 80.00, 84.00, 85.50, 87.00, 89.00, 90.00, 92.00

Nearest support levels: 74.00, 72.00, 70.00

September 29 of USD Performance

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