15.03.2016 - Technical view on commodity futures

The price of gold shows fall during which broke through the strong level of 1244 and an angled support line. As a result, quotations have decreased to the level of 1230, and may continue the fall to 1200 in the near future. The correction in the near future is limited by the level of 1244. We expect a further decline of quotations soon with the targets at 1200, 1165 and 1140. Our medium-term outlook is also negative.

Nearest resistance levels: 1244, 1280, 1300, 1315, 1330

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

The price of Light sweet crude oil after fixation below the psychologically important level of 40.00, which it failed to overcome, resumed fall and broke the lower boundary of the rising channel. After fixing below the level of 39.00, the decline continued and according to our estimates, the price will fall to the levels of 37.30, 36.00 and 35.00 in a short time, after which the target levels will be 33,00 and 31,00. Our medium-term outlook remains negative and we with a high probability expect the fall in the short term.

Nearest resistance levels: 40.00, 40.75, 42.00

Nearest support levels: 39.65, 38.00, 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.