Commodity Prices

Gold •15 mins	1,785.30	+8.60	+0.48%
Platinum •15 mins	1,105.70	+9.60	+0.88%
WTI Crude •10 mins	73.43	+0.13	+0.18%
Gasoline •11 mins	2.288	+0.007	+0.31%
Ethanol •11 hours	2.480	+0.000	+0.00%
Silver •15 mins	26.30	+0.25	+0.94%

Silver • 15 mins	26.30	+0.25	+0.94%
Copper • 15 mins	4.304	-0.002	-0.03%
Brent Crude • 11 mins	75.75	+0.19	+0.25%
Natural Gas • 11 mins	3.441	+0.023	+0.67%
Heating Oil • 11 mins	2.169	+0.007	+0.31%

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Crude Oil - Bearish Pressure Remains

By - Feb 03, 2016, 6:12 AM CST

Crude continues to move lower towards support at 29.39 (26/01/2016).The technical structure remains clearly negative in a context of oil oversupply. The short-term retracement is now ending. Hourly support is given at 26.19 (20/01/2016 low). Expected to see further decline.

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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