Commodity Prices

Gold •685 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,921.90	-23.10	-1.19%
WTI Crude •11 mins	103.65	-0.50	-0.48%
Gasoline •14 mins	3.651	-0.045	-1.23%
Ethanol •685 days	2.161	+0.000	+0.00%
Silver •685 days	30.82	+1.16	+3.92%

Silver • 685 days	30.82	+1.16	+3.92%
Copper • 685 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	110.57	-0.71	-0.64%
Natural Gas • 11 mins	3.109	-0.005	-0.16%
Heating Oil • 14 mins	4.138	-0.024	-0.58%

Headlines

1,070 days Will The ECB Continue To Hike Rates?
1,070 days Forbes: Aramco Remains Largest Company In The Middle East
1,072 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,471 days Could Crypto Overtake Traditional Investment?
1,476 days Americans Still Quitting Jobs At Record Pace
1,478 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,481 days Is The Dollar Too Strong?
1,482 days Big Tech Disappoints Investors on Earnings Calls
1,482 days Fear And Celebration On Twitter as Musk Takes The Reins
1,484 days China Is Quietly Trying To Distance Itself From Russia
1,484 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,488 days Crypto Investors Won Big In 2021
1,489 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,489 days Food Prices Are Skyrocketing As Putin’s War Persists
1,492 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,492 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,495 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,496 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,496 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,498 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

Is The Bull Market On Its Last Legs?

This aging bull market may…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

Oil – Surge on New Demand

By - Sep 29, 2016, 6:34 AM CDT

Crude oil bounced near the key support at 46.97 yesterday. An unlikely break of resistance at 47.75, as a break would signal significant exhaustion in recent selling pressures. Hourly resistance can be found at 47.46 (intraday high). Hourly support can be found at 46.50 (22/09/2016 high). 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.

Daily Technical Report