25.05.2015 - Technical view on commodity futures
The price of gold has fixed under the lower boundary of the upward channel and at the moment is consolidating above the mark of 1200 and, after overcoming it may fall to 1180 and 1170. Correction of prices in the near future is possible to the level of 1215. We expect the consolidation of quotations near the current levels in the near future, but maintain a positive medium-term forecast.
Nearest resistance levels are 1220, 1230, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1200, 1190, 1180, 1150, 1140, 1100
The price of Light sweet crude oil reached upper limit of the downward channel, but could not overcome it, and decreased to the strong level of 60.00. According to our forecasts, the price in the near future will continue to move within the downward channel and will reach the first target at 58.00 and then may continue to fall to 52.00 and 48.00. Growth is limited by the resistance level at 62.70. Our medium-term outlook remains negative.
Nearest resistance levels: 61.00, 62.70, 64.00, 70.00
Nearest support levels: 59.00, 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00