Commodity Prices

Gold •10 mins	1,780.50	-0.40	-0.02%
Platinum •10 mins	970.00	+4.10	+0.42%
WTI Crude •1 hour	45.10	-0.24	-0.53%
Gasoline •4 hours	1.256	-0.026	-2.04%
Ethanol •24 mins	1.400	+0.070	+5.26%
Silver •10 mins	22.72	+0.13	+0.56%

Silver • 10 mins	22.72	+0.13	+0.56%
Copper • 10 mins	3.453	+0.015	+0.44%
Brent Crude • 4 hours	47.59	-0.59	-1.22%
Natural Gas • 10 mins	2.938	+0.056	+1.94%
Heating Oil • 4 hours	1.368	-0.012	-0.88%

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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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