22.04.2015 - Technical view on commodity futures

The price of gold continues to consolidate near the important level of 1200. It should be noted that the fall is limited by a sloping support line. The amplitude of the fluctuations in the price gradually decreases, which indicates a strong price movement of quotations in the near future. Signal for opening long positions will be fixing the price above 1220. In case of breaking through the mark 1180, the price will drop to 1150. We maintain a positive medium-term outlook for gold, but we recommend to wait for a signal to open new positions.

Nearest resistance levels are 1210, 1220, 1244, 1256, 1280, 1300, 1330

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

The price of Light sweet crude oil after a long consolidation near the level of 58.00, could not overcome it and started to correct downward. In the near future quotations may drop to the lower boundary of the rising channel. Signal for the opening short positions will be fixing of quotations below 54.00. Our medium-term outlook for oil remains negative and we look forward to continuing fall in the near future.

Nearest resistance levels: 58.00, 60.00, 64.00

Nearest support levels: 55.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00, 43.00

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