Commodity Prices

Gold •15 mins	1,338.30	-10.50	-0.78%
Platinum •15 mins	931.80	-8.30	-0.88%
WTI Crude •15 hours	68.40	+0.07	+0.10%
Gasoline •15 hours	2.100	+0.017	+0.81%
Ethanol •15 hours	1.499	-0.009	-0.60%
Silver •15 mins	17.16	-0.08	-0.44%

Silver • 15 mins	17.16	-0.08	-0.44%
Copper • 15 mins	3.135	+0.003	+0.10%
Brent Crude • 15 hours	74.06	+0.28	+0.38%
Natural Gas • 15 hours	2.767	+0.072	+2.67%
Heating Oil • 15 hours	2.115	+0.011	+0.52%

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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