Commodity Prices

Gold •462 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,678.00	+51.40	+3.16%
WTI Crude •20 mins	62.55	+0.82	+1.33%
Gasoline •20 mins	1.910	+0.016	+0.82%
Ethanol •462 days	2.161	+0.000	+0.00%
Silver •462 days	30.82	+1.16	+3.92%

Silver • 462 days	30.82	+1.16	+3.92%
Copper • 462 days	4.530	+0.111	+2.51%
Brent Crude • 13 mins	66.03	+0.58	+0.89%
Natural Gas • 20 mins	3.333	-0.165	-4.72%
Heating Oil • 21 mins	2.291	+0.026	+1.15%

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Crude Oil - Ready For Further Decline

By - Jul 20, 2016, 6:38 AM CDT

Crude oil is still riding a short-term bearish channel. Resistance can be found at 51.67 (09/06/2016 high). Expected to weaken toward support at 42.50 (26/04/2016 low). The technical structure suggests a further bounce back as the commodity has ended to set lower lows.

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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