Commodity Prices

Gold •15 mins	2,401.40	+18.40	+0.77%
Platinum •15 mins	980.00	-1.00	-0.10%
WTI Crude •10 mins	85.87	+0.46	+0.54%
Gasoline •11 mins	2.796	+0.012	+0.45%
Ethanol •7 hours	2.161	+0.000	+0.00%
Silver •15 mins	28.83	+0.11	+0.38%

Silver • 15 mins	28.83	+0.11	+0.38%
Copper • 15 mins	4.347	-0.032	-0.73%
Brent Crude • 10 mins	90.55	+0.45	+0.50%
Natural Gas • 10 mins	1.690	-0.001	-0.06%
Heating Oil • 19 mins	2.666	+0.012	+0.45%

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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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