14.09.2016 - Technical view on commodity futures

The price of gold after fixing below the level 1330, has continued to fall and reached the level of 1315, after overcoming of which, we expect a further decline of price until 1300. In case of correction quotes may return to the levels of 1330 and an inclined resistance line but more likely will be a further decline of price. It is worth noting that for breaking through the level of 1300 will be needed a strong impulse and according to our forecasts such a scenario is unlikely. We expect increased volatility in the near future and maintain a medium-term positive outlook.

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 stabilized after the recent decline, and is currently consolidating above the level of 45.00. Breaking through and fixation of price below this level will be the basis for the continuation of the negative dynamics of price with the targets at 43.00 and 40.00. Within the correction quotes may return to the level of 47.00. Our medium-term outlook remains negative and we expect a decrease 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.