27.10.2014 - Technical view on commodity futures

The price of gold keeps consolidating near the level of 1230. In case of further decline, quotes can return within the range of 1180-1200. Reduction potential is small. Despite the correction, we expect renewed growth and recommend holding long positions with the objectives at 1265, 1290 and 1330. Our medium-term outlook remains positive.

Nearest resistance levels: 1244, 1252, 1265, 1278, 1290, 1300

Nearest support levels: 1230, 1220, 1200, 1180

The price of Light sweet crude oil gradually reduced and currently reduced the level of the price fluctuations within the triangle. After the price leaves the triangle, we can see the price movement for 4-5 dollars. Sell signals will be fixing the price below 80.00. In case of growth, the reason for the closing of short positions will be fixing the price above 83.50. We maintain a medium-term negative outlook on oil.

Nearest resistance levels: 82.50, 84.00, 85.50, 87.00, 89.00, 90.00, 92.00, 94.20

Nearest support levels: 80.00, 77.00, 75.00

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