Commodity Prices

Gold •636 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,957.00	-13.20	-0.67%
WTI Crude •11 mins	103.24	+1.86	+1.83%
Gasoline •23 hours	3.312	+0.002	+0.06%
Ethanol •636 days	2.161	+0.000	+0.00%
Silver •636 days	30.82	+1.16	+3.92%

Silver • 636 days	30.82	+1.16	+3.92%
Copper • 636 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	105.65	+1.68	+1.62%
Natural Gas • 11 mins	2.888	+0.004	+0.14%
Heating Oil • 23 hours	4.163	-0.009	-0.22%

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EUR/USD: Retest of the Broken Resistance at 1.2971

By - Oct 08, 2012, 6:40 AM CDT

EUR/USD is testing the support implied by the broken resistance at 1.2971. The recent shortterm base formation (see also bearish head and shoulders in USD/CHF) favours further shortterm strength. Monitor the hourly support at 1.2968 (02/10/2012 high).

Even though the long-term trend is still negative (see long-term declining trendline linking the May 2011 high with the August 2011 high), the rise that started in July 2012 is likely not over yet.

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