Commodity Prices

Gold •462 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,703.40	+2.60	+0.15%
WTI Crude •11 mins	62.23	-0.32	-0.51%
Gasoline •11 mins	1.901	-0.008	-0.43%
Ethanol •462 days	2.161	+0.000	+0.00%
Silver •462 days	30.82	+1.16	+3.92%

Silver • 462 days	30.82	+1.16	+3.92%
Copper • 462 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.87	-0.38	-0.57%
Natural Gas • 11 mins	3.294	-0.039	-1.17%
Heating Oil • 11 mins	2.302	+0.010	+0.45%

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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.

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