30.03.2015 - Technical view on commodity futures

The price of gold resumed the fall and after breaking through the level of 1200 and may reach the lower boundary of rising channel and the local support level at 1175. Despite the current drop, its potential is limited by the support near 1150. We expect the price growth in the medium term with the first targets at 1220, 1230, 1256, but recommend to wait for a signal for opening positions. In the near future, quotations may show a decline.

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

Nearest support levels: 1175, 1150, 1140, 1100

The price of Light sweet crude oil has accelerated decline and currently is consolidating near the level of 49.00 and the inclined support line. In case of rebound from these levels, quotations may return to the levels of 52,00-53,00, but more likely is a continuation of the downward movement of price in the near future with the first targets at 47.00 and 45.00.We maintain our medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 50.00, 52.00, 53.00, 54.00, 58.50, 60.00, 64.00

Nearest support levels: 49.00, 47.00, 45.00, 44.00, 43.00, 40.00

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