25.07.2014 - Technical view on commodity futures

The price of gold has broken the lower boundary of the rising channel and reached the nearest local minimum in case of breaking through which we recommend to open short positions with the targets at 1278 and 1252. The growth is limited by a sloping resistance line. In the near future is possible the price rebound to 1300. Despite the possibility of a decline in the next few days, we maintain a positive outlook for the medium-term.

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

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

The price of Light sweet crude oil has reached the lower boundary of the local corridor 101,60-103,00. At the moment there is a high probability of an upward price rebound with the target near the upper limit of the corridor. Signal to open positions will be price fixing outside the corridor with the objectives of 105.00 in the case of growth and 98.50 in case of a fall. 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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