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11.09.2015 - Technical view on commodity futures

The price of gold decreases after the rebound from the support level at 1100. At this point quotations move along the inclined line of resistance and in case of breaking through support at 1100, a negative trend will continue to 1080. Growth is limited by the level of 1120. We expect a decline in the near future.

Nearest resistance levels: 1120, 1150, 1165, 1195, 1205, 1215, 1230

Nearest next support levels: 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil continues to consolidate between the upper boundary of the descending channel and the support level at 44.00. The decline below this level and fixing below this mark will be the cause for the further drop in prices to 42,00 and 38,00. The growth of price and is limited by the boundaries of the channel resistance at 47.00 and 49.65. Our medium-term outlook remains negative.

Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 44.00, 42.00, 40.00, 38.00

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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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