24.04.2015 - Technical view on commodity futures

The price of gold continues to fall within the local descending channel. At the moment, the quotes are consolidated near the level of 1190. In case of continued downward dynamics, the price will reach the target levels 1180 and 1150. The signal for opening long positions will be breaking through the upper boundary of the descending channel and fixing above 1210. We maintain our positive outlook for the medium-term, but expect a decline of quotations soon.

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 rebounded from the bottom of rising channel after some price consolidation above 56.00. At the moment quotations are moving near the level of 58.00 and can continue the upward movement within the channel to the important level of 60.00. Signal for the opening short position will be fixing the price below 56.00. In this case, is expected the reduction of price to 54.00, 52.00 and 48.00. Our medium-term outlook remains negative, but the growth price may continue till 60.00.

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

March 16 of USD Performance

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