Commodity Prices

Gold •745 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,612.50	-30.00	-1.83%
WTI Crude •1 day	82.44	+3.49	+4.42%
Gasoline •1 day	3.393	+0.108	+3.29%
Ethanol •745 days	2.161	+0.000	+0.00%
Silver •745 days	30.82	+1.16	+3.92%

Silver • 745 days	30.82	+1.16	+3.92%
Copper • 745 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	88.10	+3.87	+4.59%
Natural Gas • 1 day	2.922	+0.064	+2.24%
Heating Oil • 1 day	4.085	+0.055	+1.35%

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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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