Commodity Prices

Gold •364 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,420.70	-12.80	-0.89%
WTI Crude •10 mins	66.92	-0.53	-0.79%
Gasoline •10 mins	2.109	-0.014	-0.66%
Ethanol •364 days	2.161	+0.000	+0.00%
Silver •364 days	30.82	+1.16	+3.92%

Silver • 364 days	30.82	+1.16	+3.92%
Copper • 364 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.55	-0.56	-0.81%
Natural Gas • 10 mins	3.483	-0.005	-0.14%
Heating Oil • 10 mins	2.401	-0.011	-0.46%

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USD/CAD: Corrective Phase Underway

By - Nov 30, 2012, 5:02 AM CST

USD/CAD is moving sideways between the support at 0.9906 and the resistance at 0.9962. However, the succession of lower highs since the 16 November high favours a bearish bias. A key support is at 0.9875.

The underlying trend is negative (see mediumterm declining channel in the daily time frame). Therefore, we see the rise from 0.9633 as a countertrend move. A medium-term resistance is at 1.0250 (12/07/2012 high, see also declining trendline on a daily chart).

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