20.04.2015 - Technical view on commodity futures
The price of gold is consolidated in the range 1190-1210. For the continuation of growth quotations need to gain a foothold above the local maximum at 1220. On the other hand fixing the price below the level of 1190, will be the basis for opening short positions with the targets at 1160 and 1150. We maintain our medium-term positive outlook and recommend to wait for a signal to open long positions.
Nearest resistance levels are 1210, 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. In case of continued upward trend, quotations may reach the mark of 60.00, but overcoming of it is unlikely. At the moment, there is a high probability of a downward price correction to the bottom of the channel and the support level of 54.00. Signal about change of the trend will be fixing below this level. We maintain our medium-term negative outlook and expect the signal to open short positions.
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