24.08.2016 - Technical view on commodity futures

The price of gold shows a decline during which may return to the important support level at 1330 the overcoming of which will be the basis for the continuation of negative dynamics to 1315 and 1300. According to our estimates, the more likely will be the resumption of growth, and in such case the quotes will reach the target levels 1356 and 1375. Our medium-term outlook remains positive and we expect the price growth in the in the near future.

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 corrected sharply upwards after the recent decline and reached the bottom of the channel, which has left earlier and the level of 48.50. Fixation lower than these levels was a confirmation of the sell signal with the closest targets at 45.00 and 43.00. Growth in the near future is limited by resistance levels at 48.50 and 50.00. Our medium-term view remains negative and chance of falling is high in the near future.

Nearest resistance levels: 48,50, 50,60, 52,00, 54,00

Nearest support levels: 47,00, 46,30, 45,00, 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.