22.05.2015 - Technical view on commodity futures

The price of gold could not overcome the strong support level and started to grow. Currently quotes are trying to break through the inclined resistance line. The growth of quotations in the near future is limited by the levels of resistance at 1220 and 1230. Within the fall, the price can reach the support at 1180. We keep medium-term positive outlook, but admit the possibility of continuation of ascending price movement in the near future.

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 grows within the local downtrend. The growth of quotations in the near future may continue till 62.70, but more likely is the resumption of the downward movement of price in the near future. The potential for price reduction is significant and the confirmation of the signal to sell will be fixing the price below 58,00. Our medium-term outlook for oil remains negative.

Nearest resistance levels: 62.70, 64.00, 70.00

Nearest support levels: 60.40, 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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