Commodity Prices

Gold •295 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	971.90	-8.40	-0.86%
WTI Crude •10 mins	63.12	+0.33	+0.53%
Gasoline •20 mins	2.120	+0.015	+0.70%
Ethanol •295 days	2.161	+0.000	+0.00%
Silver •295 days	30.82	+1.16	+3.92%

Silver • 295 days	30.82	+1.16	+3.92%
Copper • 295 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	66.89	+0.34	+0.51%
Natural Gas • 14 mins	2.940	+0.010	+0.34%
Heating Oil • 17 mins	2.159	+0.015	+0.70%

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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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