22.01.2015 - Technical view on commodity futures

The price of gold could not overcome the psychologically important level of resistance at 1300 and started to correct down. At the moment the price is approaching to the support level at 1278, in case of breaking through which may continue to fall until 1265. For further growth with the objectives of 1330 and 1350, the price must be fixed above the level of 1300. We maintain our medium-term positive outlook and recommend holding long positions.

Nearest resistance levels: 1300, 1330, 1350

Nearest support levels: 1278, 1265, 1252, 1244, 1227, 1200, 1180, 1170, 1140

December 16 of USD Performance

The price of Light sweet crude oil continued to decline in the descending channel. At the moment, quotes reached the top of the channel and after some consolidation around important level of 47.50 may continue the downward movement with the objectives of 45.00, 42.00 and 40.00. To change the trend, the price needs to break through the upper limit of the channel and to gain a foothold above the level of 50.00. Our medium-term outlook remains negative and we recommend holding short positions.

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

Nearest support levels: 47.50, 46.00, 45.00, 42.00, 40.00, 35.00

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