23.09.2016 - Technical view on commodity futures

The price of gold corrected downwards and in the near future may continue the downward movement of price to the level of 1330 in case of overcoming of which, the nearest support level will be 1315. The more likely scenario in the near future will be the continuation of the rising dynamics of price to 1356 and 1375. Our medium-term outlook remains positive with the objectives at 1400-1430.

Nearest resistance levels: 1356, 1375, 1400, 1430, 1450

Nearest levels of support: 1330, 1315, 1300, 1280, 1244, 1220, 1200, 1190, 1165, 1150

The price of Light sweet crude oil retreated down after the recent strong growth. In case of resumption of positive dynamics, the closest targets will be 47,00 and 48,50. Overcoming resistance at 48.50 is unlikely. Within the correction, the price is likely to reach the support at 45.00, after which a negative impulse can continue until 43,00 and 40,00. We still expect a fall of price in the medium term.

Nearest resistance levels: 45,00, 46,30, 48,50, 50,60, 52,00, 54,00

Nearest support levels: 43,00, 42,00, 40,00, 37,30, 36,00, 35,00

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.