25.02.2015 - Technical view on commodity futures

The price of gold failed to gain a foothold below the level of 1200 and has broken through the inclined resistance line. In the near future quotations may reach the level of 1220 and the upper boundary of the channel. According to our estimates fall will stop within the range of 1180-1200. If the price fixates above the level of 1220, we recommend to open long positions with the upside potential to 1300. Our medium-term outlook remains positive.

Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1200, 1180, 1140

The price of Light sweet crude oil continues to consolidate below the psychologically important level of 50.00. Fixing of price below this level will be the basis for the continuation of the downward movement of the price with the objectives at 48.00 and 45.00. The growth of quotations in case of correction will be limited by the levels of 53.00 and 54.00. Our medium-term outlook for oil remains negative and we expect a further fall in the price to the levels of 45.00 and 40.00.

Nearest resistance levels: 50.00, 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 48.00, 45.00, 43.00, 40.00

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