17.06.2014 - Technical view on commodity futures

The price of gold could not continue its upward movement and reach the resistance at 1290 and corrected downwards. Now gold quotes reached the strong level of 1265 and are consolidating near it. In case of further decrease, the price may fall to 1252 and 1244. We expect the resumption of growth of gold price in the medium term.

Nearest resistance levels: 1278, 1290, 1300, 1316, 1330, 1350

Nearest support levels: 1265, 1252, 1244, 1220, 1200

The price of Light sweet crude oil has failed to overcome the upper limit of the rising channel and the nearest local maximum of about 107.00 and rolled down to 106.00. To continue the downward movement within the channel, the price needs to fix below 105.90. In such case, the price may drop to 104.00. We expect a downward correction, but predict that the price will continue to move inside the rising channel in the medium term.

Nearest resistance levels: 107.00, 108.50, 110.00

Nearest support levels: 105.90, 104.00, 103.00, 102.00, 101.00, 100.00

XTI/USD Index of May 5

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.