19.02.2015 - Technical view on commodity futures

The price of gold reached the psychologically important level of 1200, and then rebounded upwards to 1220. In the near future the price decline may continue until the levels 1180-1200, around which we recommend to accumulate long positions. In case of continued growth, a buy signal will be breaking through the upper boundary of the channel and fixing above 1244. We maintain a positive outlook for the medium-term, but expect reduction of price in the near future with the first target at 1200.

Nearest resistance levels are 1220, 1244, 1256, 1280, 1300, 1330, 1350

Nearest support levels: 1200, 1180, 1140

The price of Light sweet crude oil after some consolidation near the level of 54.00, started to decline sharply and broke through the sloping support line. According to our forecasts, the price will soon reach the level of 50.00. Overcoming support at 50.00 will be the basis for further drop to 48.00 and 45.00. We maintain our medium-term negative outlook and recommend holding short positions with a stop above 54.00.

Nearest resistance levels: 53.00, 54.00, 58.50, 60.00, 64.00, 68.00, 70.00

Nearest support levels: 50.00, 48.00, 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.