Commodity Prices

Gold •632 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,887.10	+29.80	+1.60%
WTI Crude •2 hours	99.64	+5.16	+5.46%
Gasoline •2 hours	3.250	+0.120	+3.83%
Ethanol •632 days	2.161	+0.000	+0.00%
Silver •632 days	30.82	+1.16	+3.92%

Silver • 632 days	30.82	+1.16	+3.92%
Copper • 632 days	4.530	+0.111	+2.51%
Brent Crude • 1 hour	112.57	+4.56	+4.22%
Natural Gas • 5 hours	3.081	+0.082	+2.73%
Heating Oil • 2 hours	4.496	+0.222	+5.20%

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GBP/USD - Resistance Expected Close To 1.6000

By - Mar 02, 2012, 6:05 AM CST

GBP/USD has broken over the 200 day moving average and trend-line resistance off 1.6167. However, structure present since 1.5649 suggests that the 1.6000 region should act as strong resistance, with scope then for a fresh swing back down to 1.5700/50.

The 1.6000 region also lies close to the 50 week moving average, which acted as a region of resistance at the end of last year.

Loss of the reaction/swing low at 1.5645 would confirm a top pattern calling for a return to 1.5500/1.5582 (psychological/50% retracement) in a deeper retracement of the 1.5235 advance.

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