Commodity Prices

Gold •393 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,278.40	-20.70	-1.59%
WTI Crude •10 mins	69.47	+0.21	+0.30%
Gasoline •10 mins	2.172	-0.002	-0.10%
Ethanol •393 days	2.161	+0.000	+0.00%
Silver •393 days	30.82	+1.16	+3.92%

Silver • 393 days	30.82	+1.16	+3.92%
Copper • 393 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	71.90	+0.20	+0.28%
Natural Gas • 10 mins	3.101	-0.005	-0.16%
Heating Oil • 10 mins	2.394	-0.002	-0.06%

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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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