24.11.2014 - Technical view on commodity futures

The price of gold currently is consolidating near the level of 1200 and moves inside the rising channel. We expect that the quotes will reach in the near future the levels of 1220 and 1230. The fall is limited by the level of 1180, below which we recommend to set a stop. Our medium-term positive outlook remains unchanged and we recommend holding long positions in gold.

Nearest resistance levels: 1200, 1220, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1180, 1140, 1120, 1100

October 3 of USD Performance

The price of Light sweet crude oil is trying to gain a foothold above the nearest resistance level 76.40 and to continue the growth with the objectives 79,40-80,00. It is worth noting that the price has moved beyond the descending channel and fixing the price above the nearest local maximum will be a signal for the opening short-term long positions and fixation of short positions. We recommend to take profits and wait for the new signal. Our medium-term outlook remains negative.

Nearest resistance levels: 76.70, 79.40, 80.00, 84.00, 85.50, 87.00, 89.00, 90.00

Nearest support levels: 76.00, 74.00, 72.00, 70.00

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