Commodity Prices

Gold •483 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,589.90	-10.90	-0.68%
WTI Crude •11 mins	59.95	-0.53	-0.88%
Gasoline •15 mins	1.963	-0.011	-0.57%
Ethanol •483 days	2.161	+0.000	+0.00%
Silver •483 days	30.82	+1.16	+3.92%

Silver • 483 days	30.82	+1.16	+3.92%
Copper • 483 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	64.35	-0.57	-0.88%
Natural Gas • 11 mins	3.829	+0.014	+0.37%
Heating Oil • 11 mins	2.394	-0.030	-1.24%

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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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