23.06.2015 - Technical view on commodity futures

The price of gold decreased to the bottom of the local rising channel and currently is consolidating near it. In the near future we may see the price rebound upwards and return to the levels of 1200-1205. In case of further decline and breaking through the level of 1180, quotes will drop to 1170. Our medium-term outlook remains positive, but we expect a continuation of the price movement within a range of 1170-1230 in the near future.

Nearest resistance levels: 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1170, 1150, 1140, 1100

The price of Light sweet crude oil keeps consolidating between the inclined line of resistance and the level of support at 59.25. In case of growth, quotations may reach the levels of 61.70 and 62.70. To continue the downward price movement to target levels at 58.00 and 57.00, quotations must overcome a strong support level at 59.25. Our medium-term outlook remains negative.

Nearest resistance levels: 61.70, 62.70, 64.00, 70.00

Nearest support levels: 59.25, 58.00, 57.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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