30.06.2014 - Technical view on commodity futures
The price of gold continues to show a low level of volatility and is consolidating around the levels 1310-1320. To move beyond the channel, the price will need a strong stimulus. The buy signal with the objectives of 1330 and 1350 will be the price fixing higher than the nearest top around 1325. A signal to sell will be price fixing below 1310. We maintain a medium-term positive outlook for gold.
Nearest resistance levels: 1320, 1330, 1350
Nearest support levels: 1310, 1300, 1290, 1278, 1265, 1252, 1244
The price of Light sweet crude oil could not continue to grow and again reached the lower limit of the side corridor 105,00-107,00. Growth of price is limited by the level 107.00. To continue the downward movement, the price needs to fix below 105.00. In such case the oil quotes may fall to the bottom of the rising channel and the horizontal support line at 104.00. We expect growth of quotations in the medium term.
Nearest resistance levels: 107.00, 108.00, 110.00
Next support levels: 105.00, 104.60, 104.00, 103.00, 102.50, 101.90