08.09.2014 - Technical view on commodity futures

The price of gold corrected upwards after a rebound from the bottom of the downward channel. In case of further price increase, the signal for the opening of long positions will be fixing the price above 1278 and breaking through the upper limit of the local descending channel. The potential for further reduction is minimal and we keep a positive outlook for the medium-term with objectives of 1320 and 1330.

Nearest resistance levels: 1278, 1290, 1300, 1320, 1330, 1340, 1350, 1365

Nearest support levels: 1265, 1252, 1244

The price of Light sweet crude oil again has reached the strong support level around 92.50 and now is consolidating above this mark. We see that the amplitude of price fluctuations decreases and now forms a figure - triangle, after moving beyond which, we expect strong price movement. Our medium-term outlook remains negative with the objectives of 92.00 and 89.00.

Nearest resistance levels: 94.00, 95.00, 95.50, 96.00, 98.00, 100.00, 101.60, 103.00

Nearest support levels: 92,50,92,00, 91,60, 91,00, 90,00

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.