04.12.2014 - Technical view on commodity futures

The price of gold after reaching the level started to decline 1210 and approached the lower boundary of the rising channel. Decrease in the amplitude of oscillations increases the likelihood the strong price movement. The fall is limited by a strong support level at 1180. We expect continued upward movement and maintain the medium-term positive outlook for gold. We also recommend holding long positions with the targets at 1244 and 1252, and the stop below 1180.

Nearest resistance levels are 1220, 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1200, 1180, 1140, 1120, 1100

The price of Light sweet crude oil decreases along the bottom of the downward channel. Growth of price in the near future is limited by the level of 70.00 Overcoming this mark in the following weeks is unlikely. We continue to recommend holding short positions and maintain a medium-term negative view of the oil with the objectives of 64.00 and 60.00.

Nearest resistance levels: 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00, 84.00

Nearest support levels: 64.00, 63.00, 60.00

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.