20.10.2015 - Technical view on commodity futures

The price of gold broke through the lower boundary of the ascending channel and in case of further decline may fall up to 1150. On the other hand the return of quotations within the frames of the channel will be a stimulus for the return of price to the local maximum at 1190, after which growth may continue until 1215. We expect the price increase in the short term, but we do not exclude the fall in the coming days.

Nearest resistance levels: 1190, 1205, 1215, 1230

Nearest support levels: 1165, 1150, 1140, 1120, 1100, 1080, 1060, 1050, 1100

The price of Light sweet crude oil after correction to the level of resistance at 48.00, resumed its decline and returned to local minimum. According to our forecasts, the drop in prices will continue in the near future to the target level of 44.00, but for its overcoming will be needed a strong impulse. Our medium-term outlook remains negative and the signal the resumption of growth will be fixation above 48.00.

Nearest resistance levels: 47.00, 48.00, 49.65, 50.00, 51.50, 52.00, 54.00

Nearest support levels: 44.00, 42.00, 40.00, 38.00

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.