07.09.2016 - Technical view on commodity futures

The price of gold has broken through the inclined resistance line and may soon reach the level of 1356, the overcoming of which will be the basis for a further increase to the levels 1375 and 1400. After a strong decline, and considering approaching the resistance at 1356, there is a probability of the beginning of correction to the level of and the return 1330. Our medium-term outlook remains positive.

Nearest resistance levels: 1356, 1375, 1400, 1430, 1450

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil rebounded from the lower boundary of the descending channel and may continue the current growth to 46.30 and the upper boundary of the channel. Fixing above this level will be the basis for further growth with the target at 48.50. We anticipate that a drop in prices will continue in the near future with the targets at 43.00 and 40.00. Our medium-term outlook remains negative and we expect saving the high level of volatility.

Nearest resistance levels: 45,00, 46,30, 48,50, 50,60, 52,00, 54,00

Nearest support levels: 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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.