12.04.2016 - Technical view on commodity futures

The price of gold has broken the resistance level at 1244 and continued to rise. The closest price levels are 1265, 1280 and 1300. In case of resumption negative dynamics and price fixing below 1244, we expect a continuation of the negative dynamics of price to 1230, and 1210. Our medium-term outlook remains negative with the target at 1100, but in the near future we do not exclude the continuation of growth up to 1300.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil after breaking through the psychologically important level of 40.00, continued growth and approached the resistance at 42.00. Fixation above this mark will be the basis for continued growth of quotations up to 44.00. According to our forecasts, the volatility in the near future will be high and the price is likely to decline in the beginning of next week. We maintain our medium-term negative outlook and recommend to accumulate short positions.

Nearest resistance levels: 42.00, 44.00, 45.00, 49.00

Nearest support levels: 40.00, 37,30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00, 25.00, 22.00

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.