02.03.2016 - Technical view on commodity futures

The price of gold again failed to continue its growth after reaching the resistance level at 1244, and corrected downward. The fall of price is limited by the lower boundary of the rising channel and in case of its breaking quotations will reach the level of 1200. We maintain our medium-term negative outlook, but in case of overcoming the level of 1244, the growth will continue until 1256 and 1265.

Nearest resistance levels: 1230, 1244, 1256, 1280, 1300

Nearest support levels: 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065

The price of Light sweet crude oil after the recent correction to 33.00, surged upward to the strong resistance level at 35.00 and is currently consolidating near this mark. The breaking of inclined support line will lead to a decrease in quotations till 33.00, after which the negative dynamics is likely to continue with the targets at 31.00 and 28.00. In case of overcoming resistance at 35.00, the growth will continue until 36,00 and 38,00. Our medium-term outlook remains negative.

Nearest resistance levels: 35.00, 36.00, 38.00, 40.00, 40.75, 42.00

Nearest support levels: 33.00, 31.00, 30.00, 28.00, 25.00, 22.00, 20.00

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.