28.08.2014 - ​Technical view on commodity futures

The price of gold continues to consolidate within the corridor 1278-1290. On the market remains negative trend. Signal to open positions will be fixing the price below 1278 or above 1290. The target levels in such case will be, respectively in 1265, 1252, and 1320, 1330. Despite the current trend, we maintain a positive outlook for the medium-term, but recommend to wait for confirmation of a buy signal.

Nearest resistance levels: 1290, 1300, 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1278, 1265, 1252, 1244

The price of Light sweet crude oil continues to move within the corridor 93,00-94,00. To continue descending movement the price needs to fix below 93.00 and break through the level of the nearest local minimum near 92.50. Growth is limited by a strong resistance level near 96.00. We maintain a medium-term negative outlook despite the significant reduction in growth potential.

Nearest resistance levels: 94.00, 95.20, 96.00, 98.00, 100.00, 101.60, 103.00

Nearest support levels: 92.00, 91.60, 91.00, 90.00

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