12.01.2016 - Technical view on commodity futures

The price of gold failed to gain a foothold above the level of 1100 and started to decline, but continues to consolidate around the level of 1100. In case of continuation of the negative dynamics and overcoming the support at 1090, the price decline is likely to continue to 1065 and 1050. In order to continue the growth, quotations need to overcome the level of 1110. Our short-term outlook is negative.

Nearest resistance levels: 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1090, 1080, 1065, 1050, 1040, 1000, 960

The price of Light sweet crude oil has broken through the lower boundary of the descending channel and the support level at 33.00 and continued to fall. According to our forecast the decline will continue in the near future to the level of 30.00. Correction of price is possible to the levels 33.00 and 35.00. We maintain a medium-term negative outlook and recommend holding short positions with a stop above 35.00.

Nearest resistance levels:: 33.00, 35.00, 36.00, 38.00, 40.00, 40.75, 42.00, 43.65, 44.00

Nearest support levels: 30.00, 28.00, 25.00, 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.