13.09.2016 - Technical view on commodity futures

The price of gold rebounded upwards after the recent decline, and as a result reached the level of 1330 and the inclined resistance line. In case of continuation of positive dynamics of quotations and fixing above the level of 1330, we expect further growth of price with the first targets at 1350-1356, after overcoming of which growth can continue until 1375 and 1400. In case of further decline, we expect reaching the levels 1315 and 1300. Our medium-term outlook remains positive, but the decline may continue in the near future.

Nearest resistance levels: 1330, 1356, 1375, 1400, 1430, 1450

Nearest levels of support: 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil resumed fall after the recent price rebound approaching to 47.00. In the near future quotes will probably return to the level of 45.00, and overcoming of this level will be the basis for the continuation of negative dynamics of price with potential targets at 43.00 and 40.00. The upward movement is possible up to the level of 47.00. Our medium-term outlook remains negative and we expect a fall in the near future.

Nearest resistance levels: 46,30, 48,50, 50,60, 52,00, 54,00

Nearest support levels: 45,00, 43,00, 42,00, 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.