15.07.2015 - Technical view on commodity futures

The price of gold still decreases along the upper boundary of the descending channel and may soon return to the level of 1150. The price fixing below this level will become the basis for the continuation of the downward movement to 1100. On the other hand there is a possibility of breaking the upper boundary of the channel and in this case, a buy signal will be fixing of quotations above 1165. Our medium-term outlook remains positive, and we are waiting for the signal to open new positions.

Nearest resistance levels: 1165, 1195, 1205, 1215, 1230, 1244, 1256, 1280, 1300, 1330

Nearest support levels: 1150, 1143, 1100

The price of Light sweet crude oil corrected upwards after has not been able to gain a foothold below the level of 52.00. As a result, quotations reached a strong resistance level at 54.00 and the upper limit of the downward channel. The breaking and fixing the price above these levels will be the basis for the growth of quotations to the target levels at 57.00 and 59.00. More likely is the return of oil prices to the level of 52.00 and the continuation of the downward price movement to the downward channel. Our medium-term outlook remains negative.

Nearest resistance levels: 54.00, 55.00, 57.00, 58.00, 59.25, 60.00, 61.70, 62.70

Nearest support levels: 52.00, 51.00, 50.00, 48.00, 47.00

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.