26.07.2016 - Technical view on commodity futures

The price of gold continues to consolidate around the level of 1315 and is still within the local descending channel in case of breaking the upper border and the level of 1330, we expect continued growth to 1370 and 1400. In this case, the stop should be set below 1315. Our medium-term outlook remains positive, but in the near future the fall may continue up to 1300.

Nearest resistance levels: 1330, 1350, 1370, 1400, 1430, 1450

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

The price of Light sweet crude oil continues to decline along the inclined resistance line and recently has broken the lower limit of the downward channel. In case of continued negative dynamics, closest target will be 40,00. We forecast a drop in prices in the medium term, but after the recent strong decline do not exclude a correction to 44,00-45,00.

Nearest resistance levels: 45,00, 46,30, 47,00, 48,50, 50,60, 52,00, 54,00, 56,00, 58,60

Nearest support levels: 43,00, 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.