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Gold •15 mins	1,427.50	+4.20	+0.30%
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WTI Crude •11 mins	55.21	-1.57	-2.77%
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Copper • 15 mins	2.707	-0.009	-0.33%
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Brent Crude • 11 mins	61.90	-1.76	-2.76%
Natural Gas • 11 mins	2.268	-0.010	-0.44%

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Crude Oil - Strong Selling Pressures Area

By - Jun 23, 2016, 6:02 AM CDT

Crude oil is moving sideways around the 50- mark. Hourly support now lie at 48.16 (22/06/2016 low). Resistance can be found at 51.67 (09/06/2016 high). A break of resistance at 51.67 is necessary to confirm that buying pressures are significant.

In the long-term, crude oil is now recovering from its sharp decline and the signs of recovery are now strong. Strong support lies at 24.82 (13/11/2002) while strong resistance at 50.96 (09/10/2015 high) has been broken. Crude oil is holding way above its 200-Day Moving Average. Expected to reach 60 before year-end.

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