20.06.2014 - ​Technical view on commodity futures

The price of gold has broken through the number of resistance levels and reached a strong level of 1315 above which is trying to gain a foothold now. In case of rolling back down, the quotes may decline to 1305. In case of further rise, the price probably will reach 1330. We maintain a positive outlook for the medium-term, but expect the downward price correction today.

Nearest resistance levels: 1330, 1350

Nearest support levels: 1305, 1290, 1278, 1265, 1252, 1244, 1220, 1220, 1180

The price of Light sweet crude oil increased within the local descending corridor and now is consolidating around the level of 106.00. Within the descending channel, the price may drop to a strong level of 104.00. For renewed growth, the price needs to break through the inclined resistance line and to gain a foothold above 106.20. We maintain a positive medium-term outlook for oil.

Nearest resistance levels: 107.00, 110.00

Nearest support levels: 105.00, 104.60, 104.00, 103.00, 102.50, 101.90

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.