27.02.2015 - Technical view on commodity futures

The price of gold resumed the fall after reaching the level of 1220 and the upper boundary of the downward channel. In case of breaking and fixing the price above these levels, we recommend to open long positions with a stop below 1180 and targets at 1256, 1280 and 1300. At the moment there is a high probability of continuing fall with the potential reduction up to 1200, 1190 and 1180. Our medium-term outlook remains positive but falling may continue in the near future.

Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1200, 1180, 1140

The price of Light sweet crude oil after the downward movement rebounded from the support level at 49.00. In case of growth quotations may reach the level of 52.00 and 54.00. To continue the downward movement, the price must overcome the strong support level at 49.00. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 54.00.

Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 50.00, 48.00, 45.00, 43.00, 40.00

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