25.04.2016 - Technical view on commodity futures

The price of gold after a recent fall to the level of 1230, and the channel's lower border, started to correct upwards. In case of continued growth, the closest target level will be 1244 the overcoming of which will be the basis for the continuation of the upward price movement to 1265 and 1280. Fixing below 1230 will be a signal to sell with the closest targets at 1210 and 1190. Our medium-term outlook remains negative, but the current growth can continue in the near future.

Nearest resistance levels: 1244, 1280, 1300, 1315, 1330

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

The price of Light sweet crude oil continued to consolidate above the level of 43.00. In order to continue growth, quotes need to overcome the resistance at 44.00. The growth potential in the near future is low and more likely will be renewed negative dynamics with the objectives at 40.00, 37.30 and 36.00. Our medium-term outlook remains negative.

Nearest resistance levels: 45.00, 49.00, 50.00, 51.50

Nearest support levels: 44.00, 43.00, 40.00, 37.30, 36.00, 35.00, 33.00, 31.00, 30.00, 28.00

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.