28.01.2015 - Technical view on commodity futures

The price of gold could not continue to fall after reaching the level 1278 and is currently consolidating near 1290. Further growth is limited by the level of 1300. In order to continue the growth with the targets at 1330 and 1350, the price needs to be fixed above 1300. In case of resumption of downward movement and breaking through the level 1278, the price with high probability will reach the level of support at 1265 and 1252. We maintain a medium-term negative outlook and recommend holding long positions.

Nearest resistance levels: 1300, 1330, 1350

Nearest support levels: 1278, 1265, 1252, 1244, 1230, 1215, 1200, 1180, 1140

The price of Light sweet crude oil continues to consolidate between the upper boundary of the descending channel and a strong support level at 45.00. Given the decrease in the amplitude of oscillations, we expect a strong price movement. Growth is limited by the level of 50.00. To continue the downward movement, the price needs to be fixed below 45.00. We maintain our medium-term negative outlook and recommend holding short positions with the first target at 45.00.

Nearest resistance levels: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 45.00, 43.00, 40.00

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