Commodity Prices

Gold •15 mins	1,945.60	-1.10	-0.06%
Platinum •15 mins	1,016.80	-6.20	-0.61%
WTI Crude •1 day	79.68	-1.33	-1.64%
Gasoline •1 day	2.589	-0.024	-0.90%
Ethanol •1 day	2.161	+0.000	+0.00%
Silver •15 mins	23.62	-0.40	-1.66%

Silver • 15 mins	23.62	-0.40	-1.66%
Copper • 15 mins	4.223	-0.045	-1.05%
Brent Crude • 1 day	86.66	-0.81	-0.93%
Natural Gas • 1 day	2.849	+0.001	+0.04%
Heating Oil • 1 day	3.266	-0.131	-3.86%

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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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