20.04.2016 - Technical view on commodity futures

The price of gold after overcoming the resistance level at 1244 was able to continue its growth and reach the inclined resistance line. The nearest objectives in case of growth may be 1265 and 1280. A more likely in the near future will be the return of price to the level 1230, after which the decline may continue until 1210. Our medium-term outlook remains negative with a target at 1100.

Nearest resistance levels: 1280, 1300, 1315, 1330

Nearest levels of support: 1244, 1230, 1200, 1190, 1165, 1150, 1140, 1120, 1110, 1095, 1080

The price of Light sweet crude oil after completion of growth during which has reached a strong resistance at 43.00, has resumed the decline and according to our estimates in the near future the price will reach the psychologically important mark at 40.00. Fixation lower than this level will be the basis for the continuation of negative dynamics to 37.30 and 36.00. Our medium-term outlook remains negative and probability of falling in the short term has significantly increased.

Nearest resistance levels: 42,00, 43,00, 44,00, 45,00, 49,00

Nearest support levels: 40,00, 37,30, 36,00, 35,00, 33,00, 31,00, 30,00, 28,00, 25,00

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.