Commodity Prices

Gold •621 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,102.20	+60.10	+2.94%
WTI Crude •11 mins	94.13	-4.58	-4.64%
Gasoline •11 mins	3.008	-0.033	-1.09%
Ethanol •621 days	2.161	+0.000	+0.00%
Silver •621 days	30.82	+1.16	+3.92%

Silver • 621 days	30.82	+1.16	+3.92%
Copper • 621 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	100.81	-2.33	-2.26%
Natural Gas • 11 mins	3.013	-0.118	-3.77%
Heating Oil • 11 mins	3.854	-0.161	-4.00%

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Crude Oil - A New Bearish Momentum Is Arising

By - Aug 31, 2016, 7:16 AM CDT

Crude oil's bullish momentum has ended as the pair is slowly heading lower. For the time being, hourly resistance can be found at 48.75 (19/08/2016 high). The break of hourly support given at 45.84 (17/08/2016 low) confirms a deeper bearish move. Time to reload bearish position.

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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