Commodity Prices

Gold •308 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	978.10	-5.10	-0.52%
WTI Crude •10 mins	58.30	+0.23	+0.40%
Gasoline •13 mins	2.034	+0.006	+0.28%
Ethanol •308 days	2.161	+0.000	+0.00%
Silver •308 days	30.82	+1.16	+3.92%

Silver • 308 days	30.82	+1.16	+3.92%
Copper • 308 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	61.31	+0.19	+0.31%
Natural Gas • 10 mins	3.642	+0.021	+0.58%
Heating Oil • 10 mins	1.980	+0.003	+0.15%

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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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