Commodity Prices

Gold •653 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,141.70	+29.50	+1.40%
WTI Crude •20 hours	84.98	-9.71	-10.25%
Gasoline •20 hours	3.012	-0.151	-4.79%
Ethanol •653 days	2.161	+0.000	+0.00%
Silver •653 days	30.82	+1.16	+3.92%

Silver • 653 days	30.82	+1.16	+3.92%
Copper • 653 days	4.530	+0.111	+2.51%
Brent Crude • 19 hours	90.38	-9.01	-9.07%
Natural Gas • 20 hours	2.680	+0.033	+1.25%
Heating Oil • 20 hours	3.436	-0.397	-10.36%

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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.

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