21.11.2014 - Technical view on commodity futures

The price of gold after correction to the important level of 1180, resumed the growth and now approached the level of 1200. Overcoming this mark will be the basis for continued growth with the objectives of 1220 and 1230. The fall is limited by the levels 1180 and the lower boundary of the channel. We recommend holding long positions and maintain a positive outlook for the medium-term, but do not exclude the possibility of reducing price to the level of 1140 and 1100.

Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1180, 1140, 1120, 1100

The price of Light sweet crude oil has broken through the upper boundary of the downward channel and reached a strong resistance near 76.20. In case of fixing the price above this mark, we expect continued growth in price to the levels of 79,40-80,00. We note the reduction in potential of fall but recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 76.20, 76.70, 79.40, 80.00, 84.00, 85.50, 87.00, 89.00, 90.00

Nearest support levels: 74.00, 72.00, 70.00

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