Commodity Prices

Gold •422 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,372.70	+11.00	+0.81%
WTI Crude •11 mins	64.01	-0.59	-0.91%
Gasoline •42 mins	2.248	+0.049	+2.21%
Ethanol •422 days	2.161	+0.000	+0.00%
Silver •422 days	30.82	+1.16	+3.92%

Silver • 422 days	30.82	+1.16	+3.92%
Copper • 422 days	4.530	+0.111	+2.51%
Brent Crude • 40 mins	68.12	-0.50	-0.73%
Natural Gas • 11 mins	3.009	+0.065	+2.21%
Heating Oil • 42 mins	2.272	-0.038	-1.63%

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USD/CAD: Weakening

By - Jan 02, 2013, 5:46 AM CST

USD/CAD is declining sharply after having moved above its resistance at 0.9962 (28/11/2012 high), which suggests a bearish trap. A test of the support at 0.9825 is expected. An hourly resistance can be found at 0.9910 (01/01/2013 low).

The underlying trend is negative (see mediumterm declining channel in the daily time frame). Therefore, we see the rise from 0.9633 (14/09/2012 low) 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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