Commodity Prices

Gold •392 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,343.50	-31.40	-2.28%
WTI Crude •10 mins	69.97	-0.03	-0.04%
Gasoline •1 hour	2.276	+0.007	+0.31%
Ethanol •392 days	2.161	+0.000	+0.00%
Silver •392 days	30.82	+1.16	+3.92%

Silver • 392 days	30.82	+1.16	+3.92%
Copper • 392 days	4.530	+0.111	+2.51%
Brent Crude • 52 mins	73.10	-0.14	-0.19%
Natural Gas • 10 mins	3.004	-0.041	-1.35%
Heating Oil • 5 hours	2.424	+0.006	+0.23%

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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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