30.04.2015 - Technical view on commodity futures
The price of gold reached the level of 1210, but was unable to continue the growth up to 1220. At the moment, quotes approached the psychologically important level of 1200. In case of continued growth, the signal for opening long positions will be fixing the price above the level of 1220. In such a case the quotations will rise to 1244 and 1256. The fall of price within the correction is limited by the local minimums at 1175 and 1150. We keep medium-term positive outlook and recommend to wait for a signal for opening positions.
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 after a long consolidation below 58.00, has broken through the strong resistance level and approached the psychologically important level of 60.00. For the continuation of growth, quotations need to gain a foothold above 60.00. In case of a change of trend, a signal to sell will be breaking through the lower boundary of the rising channel and consolidation below 56.00. Our medium-term outlook for oil remains negative and we recommend to wait for the signal to sell.
Nearest resistance levels: 60.00, 64.00
Nearest support levels: 58.00, 56.00, 54.00, 52.00, 51.00, 50.00, 48.00, 47.00, 45.00, 44.00