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06.01.2016 - Technical view on commodity futures

The price of gold is trying to overcome the level of 1080 and consolidation above it will be the basis for further price increase to the levels of 1090 and 1100. On the other hand, the growth potential is limited and there is a possibility of resumption of the negative dynamics of price with targets at 1065 and 1050. Our medium-term outlook remains negative and we expect the resumption of the negative dynamics in the near future.

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 resumed falling and approached the lows near an important level of 36.00. Overcoming this level of support will be the basis for further price reduction to 35,00 and 33,00. On the other hand there is a possibility for a rebound of quotations to 38.00. Our average medium-term outlook remains negative and we are waiting for further decline in the near future.

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

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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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