13.03.2015 - Technical view on commodity futures

The price of gold keeps consolidating above the level of 1150. In case of overcoming this level, quotations may continue to fall to 1140 and 1100. The signal of changing the current negative trend to positive, will be fixing the price above the level of 1200. According to our forecasts, the price decline may continue in the near future, but potential for such a movement is limited. We maintain our medium-term positive outlook for gold despite the current drop in prices.

Nearest resistance levels: 1165, 1180, 1200, 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1150, 1140, 1100

The price of Light sweet crude oil continues to move within the local downward channel. If the price fixates below 49.00, we expect a further drop in prices to 47.00 and 45.00. In the case of breaking through the upper boundary of the channel, we expect growth to 53.00. According to our estimates, quotes will continue to decline in the medium term to the level of 40.00. We also recommend holding short positions with a stop above 54.00.

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

Nearest support levels: 49.00, 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.