24.06.2015 - Technical view on commodity futures

The price of gold after failing to overcome the level of 1205 began a sharp decline and returned within the range 1170-1180. In case of breaking through and fixation of quotes below the important support level at 1170, we expect a further price reduction to the levels 1150 and 1143. On the other hand, at the moment there is a great probability of a technical rebound of price with the first targets at 1195 and 1205. Our medium-term outlook remains positive.

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

Nearest support levels: 1170, 1150, 1143, 1100

The price of Light sweet crude oil has increased dramatically within the range 59,25-61,70 and is likely to continue to rise in this corridor in the near future. Overcoming of resistance at 61.70, will be the basis for continued growth to 62.70 and 64.00, but more likely is the resumption of downward movement in the near future with the first target at 59.25 and the potential for further drop to 58.00 and 57.00. Our medium-term outlook on oil 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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