25.11.2014 - Technical view on commodity futures

The price of gold shows a decrease in the oscillation amplitude. At the moment the price is consolidating near the psychologically important level of 1200. Further growth is limited by the resistance levels at 1210, 1220 and the upper boundary of the rising channel. In case of decline the price may drop to 1180. We expect increased volatility today after a long consolidation. Our medium-term outlook is positive.

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

Nearest support levels: 1180, 1140, 1120, 1100

The price of Light sweet crude oil was unable to hold above the level 76.00, and began to decline gradually. Today is expected the increase in price volatility. In case of continuation of the current dynamics, the price will reach 74.00 which is a strong support level. Signal about the change of the negative trend to the positive will be fixing the prices above 80.00. We maintain our medium-term negative outlook on oil.

Nearest resistance levels: 76.00, 76.70, 79.40, 80.00, 84.00, 85.50, 87.00, 89.00, 90.00

Nearest support levels: 74.00, 72.00, 70.00

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