Commodity Prices

Gold •393 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,297.80	-1.30	-0.10%
WTI Crude •10 mins	69.22	-0.04	-0.06%
Gasoline •9 hours	2.216	-0.054	-2.36%
Ethanol •393 days	2.161	+0.000	+0.00%
Silver •393 days	30.82	+1.16	+3.92%

Silver • 393 days	30.82	+1.16	+3.92%
Copper • 393 days	4.530	+0.111	+2.51%
Brent Crude • 9 hours	72.53	-0.71	-0.97%
Natural Gas • 14 mins	3.095	-0.011	-0.35%
Heating Oil • 9 hours	2.400	-0.019	-0.79%

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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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