Commodity Prices

Gold •634 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,846.10	-41.00	-2.17%
WTI Crude •11 mins	102.83	+3.19	+3.20%
Gasoline •55 mins	3.288	+0.038	+1.18%
Ethanol •634 days	2.161	+0.000	+0.00%
Silver •634 days	30.82	+1.16	+3.92%

Silver • 634 days	30.82	+1.16	+3.92%
Copper • 634 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	116.44	+3.87	+3.44%
Natural Gas • 11 mins	2.933	-0.092	-3.04%
Heating Oil • 24 mins	4.623	+0.128	+2.84%

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Crude Oil - Strong Increase

By - Oct 11, 2016, 6:29 AM CDT

Crude oil is definitely recovering. Support can be found at 48.32 (04/10/2016 base) then 46.50/68 (22/09/2016 high). Next resistance lies at 51.67 (08/06/2016 reaction high). Expected to monitor again resistance at 51.67. Bearish positions should be loaded up at that level as profit may start to be taken.

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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