Commodity Prices

Gold •801 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,797.60	-3.50	-0.19%
WTI Crude •1 day	100.05	-2.43	-2.37%
Gasoline •1 day	3.307	-0.086	-2.53%
Ethanol •802 days	2.161	+0.000	+0.00%
Silver •801 days	30.82	+1.16	+3.92%

Silver • 801 days	30.82	+1.16	+3.92%
Copper • 801 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	104.61	-3.02	-2.81%
Natural Gas • 1 day	2.831	-0.003	-0.11%
Heating Oil • 1 day	4.959	-0.098	-1.94%

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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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