20.08.2014 - Technical view on commodity futures

The price of gold decreased slightly and continues to consolidate around the level of 1295. In the near future the price will probably reach a point 1290. Volatility remains low and in the case of resumption of growth, the closest targets will be the levels of 1310 and 1320. Signals to open long positions will be fixing the price above 1320. We maintain a medium-term positive outlook for gold.

Nearest resistance levels: 1300, 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1290, 1278, 1265, 1252, 1244

The price of Light sweet crude oil continues to fall along the bottom of the descending channel. The price fixed below the important level of 94.00 and resumed decline. We expect continued downward movement of the price to 92.00, after which the quotes can be significantly corrected. Our medium-term outlook remains negative.

Nearest resistance levels: 94.00, 95.20, 96.00, 98.00, 100.00, 101.60, 103.00

Nearest support levels: 92.00, 91.60, 91.00, 90.00

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