03.07.2015 - Technical view on commodity futures

The price of gold has shown a strong increase in volatility yesterday, but after a sharp decline, has returned to the levels of the previous day. For the continuation of growth, the price needs to break through an inclined to resistance line and the level of 1170. In case of continued downward movement, the price will reach 1150 and 1143. We keep positive outlook for the medium-term, but in the near future we can see the continuation of a downward trend.

Nearest resistance levels: 1170, 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1150, 1143, 1100

The price of Light sweet crude oilwas fixed below the mark 58.00, and continued to decline within the local descending channel and reached the target level at 57.00. Currently quotes are trying to gain a foothold below this mark and continue the downward movement to 52.00 and 50.00. Within the correction, price may return to the level of 58.00. We keep a negative outlook and medium-term forecast drop in prices in the near future.

Nearest resistance levels: 57.00, 58.00, 59.25, 60.00, 61.70, 62.70, 64.00, 70.00

Nearest support levels: 54.00, 52.00, 51.00, 50.00, 48.00, 47.00

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.