29.05.2015 - Technical view on commodity futures

The price of gold stabilized near the level of 1190 in the near future is likely to reach the upper limit of the local the downward channel. In case of saving the current negative dynamics quotations will fall to the level of 1170, after which can reach 1150. More likely is a continuation of the price movement within a range of 1170-1230 in the near future. Our medium-term outlook remains positive.

Nearest resistance levels: 1200, 1220, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1180, 1150, 1140, 1100

The price of Light sweet crude oil continues moving inside the local downward channel. The current correction is limited by the upper boundary of the channel and an important level of 60.00. We forecast that fall of quotations of oil will continue in the near future. We recommend to keep short positions with the targets at 52,00 and 48,00 on and keep the medium-term negative outlook.

Nearest resistance levels: 58.00, 59.00, 61.00, 62.70, 64.00, 70.00

Nearest support levels: 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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