Commodity Prices

Gold •296 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	972.90	-7.40	-0.75%
WTI Crude •9 hours	63.02	+0.23	+0.37%
Gasoline •9 hours	2.119	+0.013	+0.63%
Ethanol •296 days	2.161	+0.000	+0.00%
Silver •296 days	30.82	+1.16	+3.92%

Silver • 296 days	30.82	+1.16	+3.92%
Copper • 296 days	4.530	+0.111	+2.51%
Brent Crude • 8 hours	66.87	+0.32	+0.48%
Natural Gas • 9 hours	2.937	+0.007	+0.24%
Heating Oil • 9 hours	2.167	+0.024	+1.10%

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GBP/JPY - Next Targets 132.50

By - Mar 16, 2012, 6:18 AM CDT

GBP/JPY has breached the 130.11 swing high to confirm the corrective low at 126.55, resuming the uptrend.

While 130.11 holds there is potential for an acceleration higher, with scope for an attack on the 135.11 reaction high (31st May) over coming sessions.

The big picture is bullish following completion of a major base pattern and so corrective weakness should be limited to the 126.55/127.32 region prior to fresh gains.

Failure to sustain gains above 126.55 would warn that the structure from 116.84 was a corrective phase, with risk then for a return to 121.69 initially.

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