Commodity Prices

Gold •345 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,211.90	-63.20	-4.96%
WTI Crude •10 hours	72.98	+4.94	+7.26%
Gasoline •10 hours	2.228	+0.085	+3.95%
Ethanol •345 days	2.161	+0.000	+0.00%
Silver •345 days	30.82	+1.16	+3.92%

Silver • 345 days	30.82	+1.16	+3.92%
Copper • 345 days	4.530	+0.111	+2.51%
Brent Crude • 9 hours	74.23	+4.87	+7.02%
Natural Gas • 10 hours	3.581	+0.089	+2.55%
Heating Oil • 10 hours	2.359	+0.170	+7.77%

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USD/CAD: Challenging a Major Resistance Area

By - Jan 08, 2014, 5:49 AM CST

USD/CAD has broken to the upside its horizontal range between 1.0559 and 1.0738. The implied short-term upside potential is 1.0917. Monitor the major resistance area near 1.0870 (see also the 38.2% retracement). A support now stands at 1.0732 (intraday low).

In the longer term, the strong resistance at 1.0870 (02/11/2009 high, see also the long-term declining trendline from the October 2002 peak) continues to represent a major hurdle. However, a decisive break would validate a multi-year basing formation whose upside potential is around 1.1910.

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