05.02.2015 - Technical view on commodity futures

The price of gold corrected within the local downtrend channel, but could not reach its upper limit and the resistance level at 1278. In case of further fall the price will reach an important mark of 1252. In order to continue the growth the price needs to break through the upper boundary of the channel and to fix above 1280. Our medium-term outlook remains positive, but we expect a decline in the near future.

Nearest resistance levels: 1278, 1300, 1330, 1350

Nearest support levels: 1252, 1244, 1230, 1215, 1200, 1180, 1140

The price of Light sweet crude oil resumed its decline after a sharp correction. As a result, quotes returned to the levels below 50.00 and in the near future may continue the downward movement with a target at 45.00. The price growth is limited by the level of resistance at 54.00. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 54.00 and targets at 40.00.

Nearest resistance levels: 50.00, 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 47.50, 45.00, 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.