21.05.2015 - Technical view on commodity futures

The price of gold stopped falling and is currently consolidated near the level of 1210. In case of continued negative dynamics quotations will continue to decline to the level of 1200. On the other hand, there is a high probability of the resumption of growth of quotations with the first targets at 1220 and 1230, after which the price can reach the levels 1244 and 1256. In the near future, we expect the price movement near the current levels and maintain the medium-term positive outlook.

Nearest resistance levels are 1220, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1200, 1190, 1180, 1150, 1140, 1100

The price of Light sweet crude oil was unable to gain a foothold below the important level of 59.00 and within the correction has reached a sloping resistance line. In case of its breaking we should expect further growth with the target at 62.70. Fixing below the local minimum at 58.00, will confirm the signal to sell. We recommend to hold short positions and maintain the medium-term negative outlook with the targets at 52,00 and 48,00.

Nearest resistance levels: 60.40, 62.70, 64.00, 70.00

Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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