Commodity Prices

Gold •620 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,024.30	-17.80	-0.87%
WTI Crude •11 mins	99.04	+0.33	+0.33%
Gasoline •12 mins	3.084	+0.042	+1.38%
Ethanol •620 days	2.161	+0.000	+0.00%
Silver •620 days	30.82	+1.16	+3.92%

Silver • 620 days	30.82	+1.16	+3.92%
Copper • 620 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	104.57	+1.43	+1.39%
Natural Gas • 11 mins	3.114	-0.017	-0.54%
Heating Oil • 11 mins	4.051	+0.036	+0.89%

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Crude Oil - Bouncing Within Uptrend Channel

By - Oct 24, 2016, 6:34 AM CDT

Crude oil is trading within short-term uptrend channel. Support can be found at 49.15 (10/10/2016 low) then 46.50/68 (22/09/2016 high). Buying pressures are diminishing and we maintain our bearish view. Positions should be loaded up at this level.

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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