Commodity Prices

Gold •441 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,372.80	-3.80	-0.28%
WTI Crude •14 mins	63.77	-0.28	-0.44%
Gasoline •14 mins	2.019	-0.010	-0.50%
Ethanol •441 days	2.161	+0.000	+0.00%
Silver •441 days	30.82	+1.16	+3.92%

Silver • 441 days	30.82	+1.16	+3.92%
Copper • 441 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.70	-0.25	-0.37%
Natural Gas • 12 mins	3.062	-0.038	-1.23%
Heating Oil • 14 mins	2.341	-0.014	-0.60%

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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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