21.07.2015 - Technical view on commodity futures

The price of gold has fallen to the level of 1100 and started to correct upwards. In case of continuation of this upward movement, the price will rise to 1120 and the sloping resistance line. In case of overcoming the level of 1100 quotations may continue to fall to 1080 and 1060. We expect growth in the near future within the correction and maintain the medium-term positive outlook.

Nearest resistance levels are 1130, 1143, 1150, 1165, 1195, 1205, 1215, 1230, 1244, 1256

Nearest support levels 1100, 1088, 1050

The price of Light sweet crude oil has fixed below the level of 51.50 and continued the downward movement within the downward channel. In case of growth, quotations may reach the upper limit of the channel and continue to rise to 54.00. More likely is a further reduction of price to the levels of 48.00 and 47.00. Our medium-term outlook remains negative.

Nearest resistance levels: 51.50, 52.00, 54.00, 55.00, 57.00, 58.00, 59.25, 60.00, 61.70

Nearest support levels: 50.00, 48.00, 47.00

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