11.12.2014 - Technical view on commodity futures

The price of gold could not overcome the upper limit of the upward channel and started to correct. In case of further correction, quotes will continue to decline up to the bottom of the channel and the levels of 1200-1210. According to our estimates, quotes will continue to grow inside the rising channel. Target levels are 1244 and 1252. Our medium-term outlook also remains negative.

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

Nearest support levels: 1220, 1210, 1180, 1140, 1120, 1100

The price of Light sweet crude oil decreases along the inclined resistance line. We estimate that in the near future quotations will continue to decline with a target at 60.00. The price can be stabilized near this level for some time. In the case of a rebound, quotes, can grow up to 64.00. We recommend holding short positions with a stop above 64.00 and save a medium-term negative outlook.

Nearest resistance levels: 64.00, 68.00, 70.00, 72.00, 74.00, 76.00, 76.70, 79.40, 80.00

Nearest support levels: 60.00, 57.00, 54.00

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.