13.10.2016 - Technical view on commodity futures

The price of gold is consolidated around the level of 1260 and today showed a slight increase. In case of continuation of the positive dynamics, quotations may reach the level of 1280 and the upper limit of the downward channel. The signal to buy will be fixation higher than 1300. Further fall within the channel is limited by the levels of support at 1244 and 1220. Our medium-term outlook remains negative.

Nearest resistance levels: 1280, 1300, 1315, 1330, 1356, 1375, 1400, 1430, 1450

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

The price of Light sweet crude oil has broken the lower border of the rising local channel after was not able to overcome the resistance level at 52.00. In case of overcoming the local minimum at 49.60, we recommend to open short positions with the closest targets at 47.00 and 45.00. In order to continue growth to 54,00-55,00 it is necessary to overcome the resistance level at 52.00. Our medium-term outlook remains negative.

Nearest resistance levels: 52,00, 54,00

Nearest support levels: 50,60, 48,50, 47,00, 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.