Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,986.90	+43.20	+2.22%
WTI Crude •11 mins	93.58	-1.97	-2.06%
Gasoline •12 mins	3.105	-0.022	-0.69%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	106.89	-1.76	-1.62%
Natural Gas • 11 mins	3.137	-0.029	-0.92%
Heating Oil • 15 mins	4.314	-0.029	-0.66%

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USD/CAD: Broken Rising Channel Suggests a New Down Phase

By - Oct 05, 2012, 5:39 AM CDT

USD/CAD declined sharply yesterday. The rising channel has been broken, suggesting the start of a new down phase. Short-term resistance is at 0.9884. Hourly support at 0.9798 is challenged.

The succession of lower highs since March 2009 favours an underlying bearish bias. Indeed, the break of the support at 0.9725 opens the way for a medium-term move towards the strong support at 0.9407. A break of the resistance at 0.9949 is needed to negate this bias.

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