Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,007.90	+64.20	+3.30%
WTI Crude •11 mins	93.62	-1.93	-2.02%
Gasoline •29 mins	3.110	-0.018	-0.56%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	106.99	-1.66	-1.53%
Natural Gas • 11 mins	3.128	-0.038	-1.20%
Heating Oil • 32 mins	4.280	-0.062	-1.43%

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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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