Commodity Prices

Gold •362 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,372.80	+29.80	+2.22%
WTI Crude •10 mins	64.91	-0.20	-0.31%
Gasoline •7 hours	2.080	-0.010	-0.48%
Ethanol •362 days	2.161	+0.000	+0.00%
Silver •362 days	30.82	+1.16	+3.92%

Silver • 362 days	30.82	+1.16	+3.92%
Copper • 362 days	4.530	+0.111	+2.51%
Brent Crude • 7 hours	67.61	-0.16	-0.24%
Natural Gas • 11 mins	3.463	+0.007	+0.20%
Heating Oil • 7 hours	2.346	+0.039	+1.67%

Headlines

746 days Will The ECB Continue To Hike Rates?
747 days Forbes: Aramco Remains Largest Company In The Middle East
748 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,148 days Could Crypto Overtake Traditional Investment?
1,153 days Americans Still Quitting Jobs At Record Pace
1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,158 days Is The Dollar Too Strong?
1,158 days Big Tech Disappoints Investors on Earnings Calls
1,159 days Fear And Celebration On Twitter as Musk Takes The Reins
1,161 days China Is Quietly Trying To Distance Itself From Russia
1,161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,165 days Crypto Investors Won Big In 2021
1,165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,166 days Food Prices Are Skyrocketing As Putin’s War Persists
1,168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,173 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,175 days Are NFTs About To Take Over Gaming?

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

Crude Oil - Bearish Momentum Is Growing

By - Oct 31, 2016, 6:36 AM CDT

Crude oil has exited short-term uptrend channel. The break of hourly support at 49.15 (10/10/2016 low) signals that deeper selling pressures is increasing. 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.

Daily Technical Report