Commodity Prices

Gold •277 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	921.90	+7.30	+0.80%
WTI Crude •10 mins	60.49	-1.50	-2.42%
Gasoline •12 mins	2.019	-0.036	-1.74%
Ethanol •277 days	2.161	+0.000	+0.00%
Silver •277 days	30.82	+1.16	+3.92%

Silver • 277 days	30.82	+1.16	+3.92%
Copper • 277 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	63.98	-1.60	-2.44%
Natural Gas • 10 mins	3.784	-0.053	-1.38%
Heating Oil • 10 mins	2.045	-0.037	-1.77%

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GBP/USD: Short-Term Double-Bottom Formation

By - May 31, 2013, 5:48 AM CDT

GBP/USD has validated a double-bottom formation with an upside potential at 1.5298. Resistances can be found at 1.5281 (20/05/2013 high) and 1.5331 (14/05/2013 high). Hourly supports are at 1.5197 (intraday low) and 1.5099 (intraday low).

In the longer-term, the break of the horizontal range defined by the strong support at 1.5235 (13/01/2012 low) and the strong resistance at 1.6302 (30/04/2012 high) calls for a further medium-term decline. Therefore, the rise from 1.4832 is viewed as a rebound. A key resistance can be found at 1.5606 (01/05/2013 high, see also 50% retracement).

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