Commodity Prices

Gold •817 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,712.10	-32.60	-1.87%
WTI Crude •11 mins	93.96	+1.36	+1.47%
Gasoline •5 hours	3.321	-0.017	-0.50%
Ethanol •817 days	2.161	+0.000	+0.00%
Silver •817 days	30.82	+1.16	+3.92%

Silver • 817 days	30.82	+1.16	+3.92%
Copper • 817 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	107.00	+1.72	+1.63%
Natural Gas • 11 mins	3.126	+0.020	+0.64%
Heating Oil • 12 mins	4.816	+0.061	+1.28%

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USD/CHF: Bears Retain Control

By - Feb 22, 2012, 6:41 AM CST

USD/CHF has broken down to see marginal breach of the 0.9089 swing low following last weekâ€™s completion of a bull trap.

The rebound from 0.9089 to 0.9300 is seen as a completed correction of the decline from the 0.9596 January swing high, with risk seen for fresh trend weakness.

While 0.9263/0.9300 caps, the risk is seen for sustained loss of 0.9089, a break which should see the bear run extend towards psychological 0.9000 then the 200 day moving average (currently at 0.8768) ahead of a reaction low at 0.8568.

Re-capture of 0.9300 would suggest basing, although broken support at 0.9407 would need to be cleared to turn the longer-term outlook positive for the 0.9596 swing high initially.

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