10.06.2016 - Technical view on commodity futures

The price of gold was able to break through the resistance level of 1260 and at the moment is trying to gain a foothold above it. In case of continued rising dynamics, we expect further growth of price up to 1280 and 1300. It is worth noting that after the recent growth is possible the downward correction of prices to 1244 and objectives at 1230. Our medium-term outlook remains negative, but the current growth is likely to continue in the near future.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1220, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095

The price of Light sweet crude oil was not able to overcome the resistance level at 52.00 and started to correct downwards. Today quotations will probably reach the support level at 50.20 and its breaking through will be the basis for the continuation of negative dynamics of price with potential targets at 47.00 and 45.00. We expect the start of a substantial correction of prices in the near future and confirmation of the sell signal will be overcoming the local minimum at 48.00.

Nearest resistance levels: 52,00, 54,00, 56,00, 58,60

Nearest support levels: 50.20, 49.00, 47.00, 46.50, 45.00, 43.00, 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.