Commodity Prices

Gold •499 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,559.60	-54.30	-3.36%
WTI Crude •11 mins	60.00	+1.31	+2.23%
Gasoline •12 mins	2.011	+0.051	+2.60%
Ethanol •499 days	2.161	+0.000	+0.00%
Silver •499 days	30.82	+1.16	+3.92%

Silver • 499 days	30.82	+1.16	+3.92%
Copper • 499 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	64.33	+1.32	+2.09%
Natural Gas • 11 mins	4.497	-0.149	-3.21%
Heating Oil • 11 mins	2.536	+0.071	+2.88%

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Crude Oil - Growing Bullish Momentum

By - Feb 01, 2016, 5:01 AM CST

Crude oil keeps on being very volatile. The medium-term technical structure remains clearly negative in a context of oil oversupply but there is a strong short-term upside move. Hourly support is given at 26.19 (20/01/2016 low). Expected to see further short-term increase.

In the long-term, crude oil is on a sharp decline and is of course no showing any signs of recovery. Strong support at 24.82 (13/11/2002) is now on target. Crude oil is holding way below its 200-Day Moving Average (setting up at around 47). There are currently no signs that a reverse trend may happen.

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