22.09.2014 - Technical view on commodity futures

The price of gold has broken through the level of 1220, and is continuing to decline. We predict that in the near future quotations will reach the levels of 1200 and 1180. The potential of further reduction declined significantly and we expect that the price will stabilize around the level of 1200, and then will resume the upward movement. Our medium-term outlook remains positive.

Nearest resistance levels: 1220, 1240, 1244, 1252, 1265, 1278, 1290, 1300, 1320, 1330

Nearest support levels: 1200, 1180

The price of Light sweet crude oil continues to decline after another unsuccessful attempt to break the upper limit of the downward channel. Signal to close short positions will become fixing the price above 94.00. In such a case we advise to open long positions. According to our estimates, in the near future quotations will reach the level of 90.00. Our medium-term outlook remains negative.

Nearest resistance levels: 92.50, 94.00, 95.00, 95.50, 96.00, 98.00, 100.00

Nearest support levels: 91.00, 90.00, 89.00, 87.50

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.