Commodity Prices

Gold •419 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,354.00	+4.60	+0.34%
WTI Crude •10 mins	63.22	-0.03	-0.05%
Gasoline •29 mins	2.131	+0.009	+0.41%
Ethanol •419 days	2.161	+0.000	+0.00%
Silver •419 days	30.82	+1.16	+3.92%

Silver • 419 days	30.82	+1.16	+3.92%
Copper • 419 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.19	-0.03	-0.04%
Natural Gas • 29 mins	2.723	+0.006	+0.22%
Heating Oil • 1 hour	2.286	+0.006	+0.25%

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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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