Commodity Prices

Gold •653 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,128.20	+16.00	+0.76%
WTI Crude •11 mins	84.66	-10.03	-10.59%
Gasoline •11 mins	3.016	-0.148	-4.67%
Ethanol •653 days	2.161	+0.000	+0.00%
Silver •653 days	30.82	+1.16	+3.92%

Silver • 653 days	30.82	+1.16	+3.92%
Copper • 653 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	90.82	-8.57	-8.62%
Natural Gas • 11 mins	2.678	+0.031	+1.17%
Heating Oil • 11 mins	3.429	-0.404	-10.55%

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USD/CHF: Bullish Intraday Reversal Near Its Key Support

By - Mar 04, 2014, 5:02 AM CST

USD/CHF made a bullish intraday reversal (hammer) yesterday near its key support at 0.8800. A short-term rebound is likely. An hourly resistance stands at 0.8872 (27/02/2014 low). However, a break of the resistance at 0.8930 (26/02/2014 high, see also the declining trendline) is needed to negate the current bearish trend.

From a longer term perspective, the structure present since 0.9972 (24/07/2012) is seen as a large corrective phase which has potentially reached completion. The support area defined by 0.8931 (24/02/2012 low) and 0.8833 favours a potential medium-term base formation. However, a decisive break of this zone would open the way for a further decline towards the next key support at 0.8568 (27/10/2011 low).

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