Commodity Prices

Gold •663 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,993.10	-37.30	-1.84%
WTI Crude •11 mins	96.67	+2.27	+2.40%
Gasoline •18 mins	3.499	+0.036	+1.04%
Ethanol •663 days	2.161	+0.000	+0.00%
Silver •663 days	30.82	+1.16	+3.92%

Silver • 663 days	30.82	+1.16	+3.92%
Copper • 663 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	108.29	+2.96	+2.81%
Natural Gas • 11 mins	2.541	+0.018	+0.71%
Heating Oil • 12 mins	3.940	+0.053	+1.36%

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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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