Commodity Prices

Gold •439 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,415.60	-1.60	-0.11%
WTI Crude •11 mins	63.08	-0.22	-0.35%
Gasoline •11 mins	2.006	-0.008	-0.38%
Ethanol •439 days	2.161	+0.000	+0.00%
Silver •439 days	30.82	+1.16	+3.92%

Silver • 439 days	30.82	+1.16	+3.92%
Copper • 439 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.20	-0.24	-0.36%
Natural Gas • 11 mins	3.043	-0.257	-7.79%
Heating Oil • 11 mins	2.327	-0.005	-0.19%

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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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