30.07.2015 - Technical view on commodity futures
The price of gold continued to consolidate below the level of 1100 and the inclined resistance line. Currently quotations decline and in the near future will probably reach the local minimum near 1080, the overcoming of which will be the basis for the continuation of the downward movement to 1060. The growth of quotations at the moment is limited by the inclined line of resistance and the upper limit of the downward channel. We expect a drop in prices in the nearest future.
Nearest resistance levels: 1110, 1120, 1143, 1150, 1165, 1195, 1205, 1215, 1230
Nearest support levels: 1080, 1060, 1050, 1100
The price of Light sweet crude oil after the rebound from the support at 47.00 continued the growth and has broken through the upper boundary of the channel and has overcome the level of 48.00. Further growth is limited by the levels of resistance at 50.00 and 51.50. Fixing above 51.50 will be the basis for opening long positions with the first target at 54.00. We maintain a medium-term negative outlook with the target at 45.00.
Nearest resistance levels: 50.00, 51.50, 52.00, 54.00, 55.00, 57.00, 58.00, 59.25
Nearest support levels: 48.00, 47.00, 45.00