20.11.2015 - Technical view on commodity futures

The price of gold corrected to the upper limit of the downward channel and in case of breaking through it may continue to grow to 1095-1100, overcoming of which will be the basis for further growth of price to 1120 and 1140. In the near future the price fall may resume with the target levels at 1060 and 1050. We are waiting for new signals and expect falling prices in the near future.

Nearest resistance levels: 1100, 1120, 1140, 1150, 1165, 1190, 1205, 1215, 1230

Nearest support levels: 1080, 1060, 1050, 1000

The price of Light sweet crude oil continues to consolidate around the level of 42.00 and in case of breaking through the resistance level at 43.00, may continue to grow to 44.00 and 47.00. According to our estimates, after consolidation, quotes will continue the downward movement to the nearest targets at 40.00 and 38.00. We recommend keeping short positions with a stop above 43.00 and maintain a medium-term negative outlook.

Nearest resistance levels: 43.00, 44.00, 46.00, 47.00, 48.00, 49.65, 50.00, 51.50, 52.00

Nearest support levels: 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.