30.01.2015 - Technical view on commodity futures
The price of gold after consolidation within the corridor 1278-1290, has broken its lower boundary and reached the level of support at 1252. In case of continuation the downward movement and penetration mark of 1252, we may see a drop to 1244 and 1230. Despite the current decrease in quotations, we maintain a positive outlook for the medium-term recommend and wait for a signal for opening long position.
Nearest resistance levels are 1265, 1278, 1300, 1330, 1350
Nearest support levels: 1252, 1244, 1230, 1215, 1200, 1180, 1140
The price of Light sweet crude oil continues to consolidate around a strong level of 45.00 and the upper limit of the downward channel. In case of breaking through the boundary of the channel, the price may continue to rise to the level of 50.00. Signal of the trend reversal will become fixing the prices above 50.00. We expect strong growth of volatility today. Our medium-term outlook remains negative and we recommend holding short positions.
Nearest resistance levels: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00
Nearest support levels: 43.00, 40.00