25.03.2015 - Technical view on commodity futures

The price of gold stabilized near the level of 1190. In order to continue the growth, quotations must be fixed above the mark of 1200. In this case, we expect growth to 1230 and 1256. The fall of prices is limited by the support level at 1175 and 1150. We recommend to wait for a confirmation of the signal for opening new positions, but maintain the medium-term positive outlook for gold.

Nearest resistance levels: 1200, 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1175, 1150, 1140, 1100

The price of Light sweet crude oil continues to grow gradually within the local rising channel. Quotes approached the level of resistance at 49.00, but could not overcome it and now is reduced with the first target at 47.00. We expect a further drop in prices shortly and in the medium term. We also recommend holding short positions with a stop above 49.00.

Nearest resistance levels: 49.00, 50.00, 52.00, 54.00, 58.50, 60.00, 64.00

Nearest support levels: 47.00, 45.00, 44.00, 43.00, 40.00

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