10.02.2016 - Technical view on commodity futures

The price of gold after strong growth in the previous days has reached the upper boundary of the ascending channel and the level of 1200. At the moment, quotations are consolidated below this level. In case of overcoming it, quotations will continue to rise till 1230, and 1244. In the near future we may see a correction of price to 1165. Our medium-term outlook remains negative, but we do not exclude the continuation of price growth in the near future.

Nearest resistance levels: 1190, 1200, 1230, 1244, 1252

Nearest levels of support: 1165, 1150, 1140, 1120, 1110, 1095, 1080, 1065, 1050, 1040, 1000

Statistics of XAU to USD Conversion

The price of Light sweet crude oil accelerated the fall and has reached the important level of 30.00. Fixation lower than this mark is the basis for the continuation of the negative dynamics of price with the potential decrease to 28.00 and 26.00. The growth in the near future is limited by an inclined line of resistance and the mark of 33.00. We expect a further drop in price in the near future and medium term.

Nearest resistance levels: 31.00, 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65

Nearest support levels: 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.