Commodity Prices

Gold •317 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	990.20	-5.20	-0.52%
WTI Crude •6 hours	62.49	+0.87	+1.41%
Gasoline •6 hours	2.142	+0.007	+0.35%
Ethanol •317 days	2.161	+0.000	+0.00%
Silver •317 days	30.82	+1.16	+3.92%

Silver • 317 days	30.82	+1.16	+3.92%
Copper • 317 days	4.530	+0.111	+2.51%
Brent Crude • 5 hours	65.41	+0.88	+1.36%
Natural Gas • 6 hours	3.334	-0.028	-0.83%
Heating Oil • 6 hours	2.141	-0.025	-1.17%

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GBP/USD Trapped Bears Getting Squeezed

By - Apr 06, 2012, 7:41 AM CDT

GBP/USD accelerated higher after the failure to sustain the downside break of the 1.5645 support level, trapped bears fuelling a powerful short squeeze.

The velocity of the move/re-capture of 1.5834 suggests that an important reaction low has formed at 1.5603, setting the stage for a revival of the 1.5235 advance through 1.5993 for the 1.6167 reaction high initially.

Settlement back under 1.5700 from here would neutralise, while loss of 1.5603 would be negative risking a return towards 1.5500 initially in a deeper retracement of the 1.5235 advance.

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