20.10.2014 - Technical view on commodity futures

The price of gold continues to move within a narrow corridor 1230-1244. For the continued growth, the price needs to gain a foothold above the level of 1244. The intersection of SMA50 and SMA200 is a confirmation of a buy signal. Fall is limited by the level of 1220. We maintain the mid-term positive outlook and recommend holding long positions with the targets of 1265, 1290 and 1330.

Nearest resistance levels: 1244, 1252, 1265, 1278, 1290, 1300

Nearest support levels: 1230, 1220, 1200, 1180

The price of Light sweet crude oil after leaving the descending channel is consolidating above 82.00. In the near future quotations may continue the downward movement and achieve important mark of 80.00. In case of growth, the signal to close short positions will be the increase of price above the level of 85.50. We expect further price decline with the objectives near 77.00 and 75.00, but note the reduction potential for price decline.

Nearest resistance levels: 84.00, 85.50, 87.00, 89.00, 90.00, 92.00, 94.20, 95.00, 95.50

Nearest support levels: 80.00, 77.00, 75.00

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.