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Gold •10 mins	1,270.70	+0.20	+0.02%
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Bitcoin •1 min	5,819.37	-293.82	-4.81%
WTI Crude •1 day	68.58	+3.04	+4.64%
Gasoline •1 day	2.054	+0.058	+2.90%
Silver •10 mins	16.46	+0.13	+0.81%

Silver • 10 mins	16.46	+0.13	+0.81%
Copper • 10 mins	3.027	+0.006	+0.18%
Ethereum • 1 min	437.04	-21.55	-4.70%
Brent Crude • 1 day	75.32	+2.52	+3.46%
Natural Gas • 1 day	2.945	-0.027	-0.91%

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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.

Daily Technical Report