04.01.2016 - Technical view on commodity futures

The price of gold has shown growth after was unable to continue the growth after overcoming the level of 1060. At the moment, quotations approached the inclined line of resistance and its overcoming will become the basis for further growth of price to the level of 1080. In case of renewal of the negative dynamics quotations will continue to decrease to 1050. Our medium-term outlook remains negative.

Nearest resistance levels: 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil has shown strong growth and approached the level of 39.00, but could not overcome it and started to correct downwards. In the near future growth is limited by the level of 40.00. A more likely scenario according to our forecasts is a continued negative dynamics of price to the levels 37.00 and 36.00. Our medium-term outlook remains negative.

Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00

Nearest support levels: 36.00, 35.00, 32.00, 30.00

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.