Commodity Prices

Gold •604 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,373.50	+133.90	+5.98%
WTI Crude •8 hours	67.02	+1.81	+2.78%
Gasoline •8 hours	2.078	+0.046	+2.24%
Ethanol •604 days	2.161	+0.000	+0.00%
Silver •604 days	30.82	+1.16	+3.92%

Silver • 604 days	30.82	+1.16	+3.92%
Copper • 604 days	4.530	+0.111	+2.51%
Brent Crude • 7 hours	72.87	+2.03	+2.87%
Natural Gas • 8 hours	2.859	+0.032	+1.13%
Heating Oil • 8 hours	2.671	+0.058	+2.24%

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USD/CAD: Potential Hourly Base Formation

By - Dec 14, 2012, 5:33 AM CST

USD/CAD has broken its key support at 0.9875 (07/11/2012 low), opening the way for a mediumterm move towards the next support at 0.9764 (11/10/2012 low). However, yesterday's bullish reversal may induce a short-term rebound. Hourly resistances are at 0.9888 (10/12/2012 high) and 0.9911 (intraday high).

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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