23.03.2015 - Technical view on commodity futures

The price of gold has broken the upper boundary of the descending channel and currently is consolidating above 1180. In case of fixing quotations above this level, we recommend to open long positions with a stop below 1140 and the target levels about 1265. Our medium-term outlook remains positive, but we recommend to wait for a confirmation of the signal to buy.

Nearest resistance levels: 1180, 1200, 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1150, 1140, 1100

The price of Light sweet crude oil continues to decline after could not overcome the level of 47.00. In case of continuation of the current negative dynamics, quotations may reach levels of 45.00 and 44.00. For the resumption of growth quotations must be fixed above the level of 47.00. In this case, quotations may reach levels of 49,00 and 53,00. We maintain our medium-term negative outlook and recommend holding short positions with the target at 40.00.

Nearest resistance levels: 47.00, 49.00, 50.00, 52.00, 54.00, 58.50, 60.00, 64.00

Nearest support levels: 45.00, 44.00, 43.00, 40.00

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