24.07.2014 - Technical view on commodity futures

The price of gold has broken through the support level 1305, and the lower boundary of the rising channel. Confirmation of a sell signal will be fixing the price below the local minimum of about 1290. In such case, the target levels will be 1278, 1265 and 1252. In the nearest future the price may decline, but in the medium term, we expect the upward movement with the target around 1350.

Nearest resistance levels: 1300, 1330, 1340, 1350, 1365

Nearest support levels: 1290, 1278, 1265, 1252, 1244

The price of Light sweet crude oil continues to move through the corridor 101,60-103,00. At the moment, we expect the price to reach the level of 101.60. Signal to open positions will be the price fixing outside the corridor. Growth is limited by the resistance at 105.00. In case of continued downward movement, the target levels will be 100.00 and 98.50. Medium-term outlook remains negative.

Nearest resistance levels: 103.00, 103.50, 104.00, 104.60

Nearest support levels: 101.60, 100.00, 99.60, 98.50, 96.60

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