Commodity Prices

Gold •709 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,712.20	+46.50	+2.79%
WTI Crude •17 hours	84.88	-2.83	-3.23%
Gasoline •17 hours	3.050	-0.052	-1.66%
Ethanol •709 days	2.161	+0.000	+0.00%
Silver •709 days	30.82	+1.16	+3.92%

Silver • 709 days	30.82	+1.16	+3.92%
Copper • 709 days	4.530	+0.111	+2.51%
Brent Crude • 16 hours	87.33	-3.05	-3.37%
Natural Gas • 17 hours	3.120	+0.033	+1.07%
Heating Oil • 17 hours	3.404	-0.109	-3.09%

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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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