02.12.2015 - Technical view on commodity futures

The price of gold continued to decline along the upper boundary of the descending channel and in case of its overcoming will grow to 2080. Overcoming this level will become the basis for continued growth to 1095-1100. At the moment, there is a high probability of further negative price movements within the channel to the levels 1050 and 1040. We expect the decline in the near future and look forward to the increased volatility In the near future.

Nearest resistance levels: 1080, 1095, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1065, 1050, 1040, 1000

The price of Light sweet crude oil is around the important level of 42.00. For the continuation of the fall with the objectives at 40.00 and 38.00, quotations need to overcome the local minimum around 41.00. In case of resumption of growth, the price will reach 43.65, after overcoming of which rise will continue to the upper limit of the downward channel. We expect the price drop and wait for the signal to sell.

Nearest resistance levels: 43.65, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50

Nearest support levels: 42.00, 40.00, 38.00

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.