02.04.2015 - Technical view on commodity futures

The price of gold rebounded from the level of 1180 and is currently trying to gain a foothold above the psychologically important level of 1200. In case of success, quotes will continue the upward movement up to 1220 and 1230. In case of resumption of downward movement and breaking through the mark of 1175, the price will continue to fall until 1150. Our medium-term outlook remains positive and we expect growth of quotations in the near future up to 1220.

Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1200, 1175, 1150, 1140, 1100

The price of Light sweet crude oil after some consolidation near the level of 48.00, started to rise sharply and broke through the level of 50.00. In the case of consolidation of quotations above this mark, we can see continued growth to 53,00-54,00. On the other hand, the increase is limited by the inclined line of resistance. We recommend holding short positions with a stop above 54.00 and save a medium-term negative outlook with the target at 40.00.

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

Nearest support levels: 50.00, 48.00, 47.00, 45.00, 44.00, 43.00, 40.00

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.