Commodity Prices

Gold •373 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,469.90	+57.40	+4.06%
WTI Crude •11 hours	68.45	+1.88	+2.82%
Gasoline •11 hours	2.187	+0.035	+1.61%
Ethanol •373 days	2.161	+0.000	+0.00%
Silver •373 days	30.82	+1.16	+3.92%

Silver • 373 days	30.82	+1.16	+3.92%
Copper • 373 days	4.530	+0.111	+2.51%
Brent Crude • 10 hours	70.36	+1.72	+2.51%
Natural Gas • 11 hours	3.314	-0.023	-0.69%
Heating Oil • 11 hours	2.447	+0.064	+2.68%

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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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