Commodity Prices

Gold •174 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	964.80	+13.30	+1.40%
WTI Crude •7 hours	70.10	+0.86	+1.24%
Gasoline •7 hours	1.959	+0.021	+1.06%
Ethanol •174 days	2.161	+0.000	+0.00%
Silver •174 days	30.82	+1.16	+3.92%

Silver • 174 days	30.82	+1.16	+3.92%
Copper • 174 days	4.530	+0.111	+2.51%
Brent Crude • 6 hours	73.58	+0.95	+1.31%
Natural Gas • 7 hours	3.946	+0.290	+7.93%
Heating Oil • 7 hours	2.222	-0.005	-0.22%

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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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