10.10.2014 - Technical view on commodity futures

The price of gold reached the level of 1230, and began to decline gradually. Currently quotes are consolidated within the corridor 1220-1230. Fixing the price above 1230 will be the confirmation of the signal for opening long positions with the targets 1265, 1290 and 1330. In the nearest future we can see a repeated decline to 1180-1200, but further drop is unlikely. We expect that the current negative trend will change to positive and maintain a medium-term positive outlook.

Nearest resistance levels: 1230, 1240, 1244, 1252, 1265, 1278, 1290, 1300

Nearest support levels: 1220, 1200, 1180

The price of Light sweet crude oil after consolidation near the lower boundary of the descending channel and the level of 87.00 continued to decline and has broken through the levels 85.00 and 84.00. Given the strong downward momentum, we expect a price drop to the psychologically important level of 80.00. In case of correction, quotes, can grow up to 86.00. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 85.00, 87.00, 89.00, 90.00, 92.00, 94.20, 95.00, 95.50

Nearest support levels: 82.50, 80.00

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.