Commodity Prices

Gold •819 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,720.30	+1.40	+0.08%
WTI Crude •11 mins	90.12	-0.30	-0.33%
Gasoline •11 mins	3.265	+0.004	+0.13%
Ethanol •819 days	2.161	+0.000	+0.00%
Silver •819 days	30.82	+1.16	+3.92%

Silver • 819 days	30.82	+1.16	+3.92%
Copper • 819 days	4.530	+0.111	+2.51%
Brent Crude • 45 mins	98.03	+1.87	+1.94%
Natural Gas • 11 mins	3.008	-0.018	-0.59%
Heating Oil • 2 hours	4.957	+0.059	+1.20%

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Crude Oil – Bullish Reversal

By - Sep 27, 2016, 6:46 AM CDT

Crude oil's momentum is still negative despite ongoing short-term bullish rally. Hourly resistance can be found at 47.75 (08/09/2016 high). An unlikely break of resistance at 47.75 would mean that buying interest is strong. Time to reload bearish positions.

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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