26.11.2014 - Technical view on commodity futures

The price of gold after an attempt of resumption of a downward movement returned to an important level of 1200 and is consolidated near this mark. Further growth of price is limited by the upper boundary of rising channel and the resistance levels at 1210, 1220 and 1230. In case of decrease the price may drop to the important level of 1180 below which we recommend that to set a stop. Our medium-term view remains negative and we recommend holding long positions.

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 accelerated the growth after another attempt to overcome an important level of 76.00. At the moment, quotes stabilized near the lower boundary of the side corridor 74,00-76,00. In case of breaking this level, we expect continuation the price falling with a target near 70.00. Our medium-term outlook remains negative and we expect strong growth of volatility tomorrow.

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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