21.01.2015 - Technical view on commodity futures

The price of gold reached the psychologically important level of 1300 in the case of overcoming jf which the quotes will continue to grow with the target level near 1330. At the moment, there is a high probability of price correction to the support levels at 1290 and 1278. Our medium-term outlook remains positive and we expect growth of quotations of gold to the levels 1330 and 1350. We also recommend holding long positions and expect increased volatility tomorrow.

Nearest resistance levels: 1300, 1330, 1350

Nearest support levels: 1,290, 1,278, 1,265, 1,252, 1,244, 1,227, 1200, 1180, 1170, 1140

The price of Light sweet crude oil decreased within the downward channel to the support level at 47.50, but could not overcome it and continues to consolidate above this mark. To change the negative trend in prices is necessary to break the upper limit of the channel and to gain a foothold above the level of 50.00. According to our estimates, quotes will continue to fall with the first target at 45.00, and then will continue to decline to 40.00. Our medium-term outlook also remains negative.

Nearest resistance levels: 47.50, 50.00, 52.00, 54.00, 58.50, 60.00

Nearest support levels: 46.00, 45.00, 42.00, 40.00, 35.00

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