Commodity Prices

Gold •756 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,606.30	+4.00	+0.25%
WTI Crude •11 mins	83.73	-0.73	-0.86%
Gasoline •25 mins	3.352	-0.046	-1.34%
Ethanol •756 days	2.161	+0.000	+0.00%
Silver •756 days	30.82	+1.16	+3.92%

Silver • 756 days	30.82	+1.16	+3.92%
Copper • 756 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	89.69	-1.05	-1.16%
Natural Gas • 11 mins	2.732	+0.010	+0.37%
Heating Oil • 41 mins	4.315	-0.055	-1.26%

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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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