27.07.2015 - Technical view on commodity futures

The price of gold corrected upwards and at the moment is near the level of 1100. In case of continued growth and overcoming of resistance at 1110, the price is likely to rise to 1130 and 1150. According to our forecasts, the fall can be resumed in the near future to the levels of 1080 and 1060. We expect the resumption of the price growth in the medium term, but we do not see the signal for opening long positions.

Nearest resistance levels:1110, 1120, 1143, 1150, 1165, 1195, 1205, 1215, 1230

Nearest support levels: 1080, 1060, 1050, 1100

The price of Light sweet crude oil continues to decline steadily along the upper boundary of descending channel and currently is above the level of 48.00. Nearest targets in the case of likely continuation of a downward movement will be 47,00 and 45,00. The signal for the opening of long positions will be breaking through the upper boundary of the channel, and overcoming of resistance at 51.50. Our medium-term outlook remains negative.

Nearest resistance levels: 50.00, 51.50, 52.00, 54.00, 55.00, 57.00, 58.00, 59.25, 60.00

Nearest support levels: 48.00, 47.00, 45.00

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.