Commodity Prices

Gold •485 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,572.00	-42.30	-2.62%
WTI Crude •1 hour	60.98	+0.41	+0.68%
Gasoline •4 hours	1.975	-0.029	-1.44%
Ethanol •485 days	2.161	+0.000	+0.00%
Silver •485 days	30.82	+1.16	+3.92%

Silver • 485 days	30.82	+1.16	+3.92%
Copper • 485 days	4.530	+0.111	+2.51%
Brent Crude • 4 hours	65.07	+0.07	+0.11%
Natural Gas • 1 hour	4.124	+0.168	+4.25%
Heating Oil • 4 hours	2.427	-0.033	-1.34%

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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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