Commodity Prices

Gold •774 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,757.90	+1.00	+0.06%
WTI Crude •11 mins	82.20	-0.20	-0.24%
Gasoline •13 mins	3.170	-0.014	-0.44%
Ethanol •774 days	2.161	+0.000	+0.00%
Silver •774 days	30.82	+1.16	+3.92%

Silver • 774 days	30.82	+1.16	+3.92%
Copper • 774 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	88.61	+0.09	+0.10%
Natural Gas • 11 mins	2.665	-0.068	-2.49%
Heating Oil • 21 mins	4.268	-0.015	-0.36%

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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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