17.12.2015 - Technical view on commodity futures

The price of gold after rising and reaching the upper limit of the local descending channel started to correct downwards and now is around the level of 1065. In case of further decline, quotations will reach a local minimum of 1050, and then may continue to decline to 1040, 1020 and 1000. The buy signal in case of renewal growth will be price fixing above the level of 1080. We forecast a decline in the near future.

Nearest resistance levels: 1065, 1080, 1090, 1100, 1120, 1140, 1150, 1165, 1190, 1205

Nearest support levels: 1050, 1040, 1000, 960

The price of Light sweet crude oil after certain correction resumed falling and may soon reach the level of 36.00. Overcoming this mark will lead to the continuation of the negative dynamics of the price to 35.00 and 32.00. The upward movement is possible within the correction to the upper limit of the downward channel. We maintain a pessimistic outlook for prices and see no reason to change the current trend.

Nearest resistance levels: 38.00, 40.00, 40.75, 42.00, 43.65, 44.00, 46.00, 47.00, 48.00

Nearest support levels: 36.00, 35.00, 32.00, 30.00

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.