07.01.2014 - Technical view on commodity futures

The price of gold continues to grow and reached the level of 1220, and then started to correct downwards. Potential of reduction of the price within the correction is limited and we expect the resumption of growth of quotations to the next target level at 1230, after which the quotes can continue to grow until 1244 and 1252. We maintain our medium-term positive outlook and recommend holding long positions with a stop below 1170.

Nearest resistance levels: 1230, 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1210, 1180, 1170, 1140, 1120, 1100

The price of Light sweet crude oil steadily decreases along the sloping resistance line. In case of correction quotations may grow to the level of 50.00. Given the stability of the downward movement and the absence of signals for changing the trend, we expect saving of the current dynamics in the short and medium term.

Nearest resistance levels: 50.00, 52.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00, 72.00

Nearest support levels: 46.00, 45.00, 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.