Commodity Prices

Gold •20 mins	1,571.90	+6.50	+0.42%
Platinum •20 mins	1,010.60	+3.30	+0.33%
WTI Crude •1 day	54.19	-1.40	-2.52%
Gasoline •1 day	1.526	-0.047	-2.99%
Ethanol •1 day	1.335	-0.019	-1.40%
Silver •20 mins	18.11	+0.28	+1.59%

Silver • 20 mins	18.11	+0.28	+1.59%
Copper • 20 mins	2.684	-0.042	-1.54%
Brent Crude • 1 day	59.89	-1.39	-2.27%
Natural Gas • 1 day	1.870	-0.034	-1.79%
Heating Oil • 1 day	1.737	-0.057	-3.17%

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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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