Commodity Prices

Gold •517 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,663.20	+13.00	+0.79%
WTI Crude •11 mins	59.09	+0.45	+0.77%
Gasoline •11 mins	1.831	+0.001	+0.04%
Ethanol •518 days	2.161	+0.000	+0.00%
Silver •517 days	30.82	+1.16	+3.92%

Silver • 517 days	30.82	+1.16	+3.92%
Copper • 517 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	62.80	+0.35	+0.56%
Natural Gas • 11 mins	5.012	+0.172	+3.55%
Heating Oil • 11 mins	2.287	-0.026	-1.13%

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USD/CAD: Short-Term Correction Underway

By - Feb 26, 2014, 5:31 AM CST

USD/CAD has weakened after having failed to break the resistance at 1.1224. Potential supports for a short-term correction can be found at 1.1052 (50.0% retracement) and 1.1019 (61.8% retracement). An hourly resistance stands at 1.1143 (24/02/2014 high).

In the longer term, the decisive break of the major resistance at 1.0870 validates a multi-year basing formation whose minimum upside potential is around 1.1910. A first resistance is given by the 50% retracement of the decline from the September 2009 peak at 1.3065 (around 1.1236). A support stands at 1.0911 (19/02/2014 low).

Daily Technical Report