Commodity Prices

Gold •172 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	935.40	-1.00	-0.11%
WTI Crude •10 mins	69.52	+0.06	+0.09%
Gasoline •14 mins	1.941	-0.001	-0.05%
Ethanol •172 days	2.161	+0.000	+0.00%
Silver •172 days	30.82	+1.16	+3.92%

Silver • 172 days	30.82	+1.16	+3.92%
Copper • 172 days	4.530	+0.111	+2.51%
Brent Crude • 12 mins	72.92	-0.02	-0.03%
Natural Gas • 10 mins	3.915	+0.167	+4.46%
Heating Oil • 12 mins	2.237	+0.005	+0.23%

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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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