28.04.2015 - Technical view on commodity futures
The price of gold after the rebound from the bottom of the descending channel, showed a strong growth and has broken through the upper boundary of the channel and the level 1200 above which is trying to gain a foothold at the moment. In case of success, quotes will continue to rise to the levels 1210 and 1220. The fall is limited by the support levels at 1180 and 1170. We maintain a positive medium-term outlook and strong growth of price volatility in the coming days.
Nearest resistance levels are 1210, 1220, 1244, 1256, 1280, 1300, 1330
Nearest support levels: 1190, 1180, 1150, 1140, 1100
The price of Light sweet crude oil shows a gradual decline after a long consolidation near the upper boundary of the corridor 56,00-58,00. It is worth recalling that at the moment quotes are moving inside the rising channel and the signal for the opening short position will be fixing the prices under the limit of the channel and the level of 56.00. The price growth in the near future is restricted by the levels of 58.00 and 60.00. We maintain our medium-term negative outlook on oil, but do not exclude further growth in the near future.
Nearest resistance levels: 58.00, 60.00, 64.00
Nearest support levels: 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00, 43.00