29.04.2015 - Technical view on commodity futures

The price of gold reached the level of 1210, but was unable to gain a foothold above it. In case of the continued growth, quotations reached level of 1220. Fixing the price above this level will become the basis for the continuation of the upward price movement with the targets at 1244 and 1256. In case of a change of positive dynamics to the negative, we expect falling of the price to the level of 1175. Our medium-term outlook for gold remains positive.

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 has reached the lower boundary of the rising channel and continues to consolidate below 58.00. Fixing the price above this level will be the basis for the continuation of the upward movement of the price to 60.00. In case of breaking through the lower boundary of the rising channel and fixing the price below 56.00, we recommend to open short positions with a stop above 58.00 and the objectives at 52.00, 48,00 and 45,00. Our medium-term outlook for oil remains negative.

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

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