Commodity Prices

Gold •754 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,610.40	-21.80	-1.34%
WTI Crude •11 mins	81.87	-0.74	-0.90%
Gasoline •15 mins	3.329	+0.002	+0.05%
Ethanol •754 days	2.161	+0.000	+0.00%
Silver •754 days	30.82	+1.16	+3.92%

Silver • 754 days	30.82	+1.16	+3.92%
Copper • 754 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	87.36	-1.00	-1.13%
Natural Gas • 11 mins	2.724	-0.043	-1.55%
Heating Oil • 14 mins	4.131	+0.020	+0.47%

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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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