Commodity Prices

Gold •373 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,469.90	+57.40	+4.06%
WTI Crude •14 hours	68.45	+1.88	+2.82%
Gasoline •14 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 • 13 hours	70.36	+1.72	+2.51%
Natural Gas • 14 hours	3.314	-0.023	-0.69%
Heating Oil • 14 hours	2.447	+0.064	+2.68%

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USD/CAD: Short-Term Base Underway?

By - Apr 02, 2014, 5:11 AM CDT

USD/CAD is trying to stabilise itself. However, the current short-term technical pattern (symmetrical triangle) still favours a bearish bias. A break of the initial resistance at 1.1078 (28/03/2014 high) is needed to improve the short-term technical structure. Another resistance stands at 1.1107 (27/03/2014 high, see also the 38.2% retracement). Supports can be found at 1.1001 (28/03/2014 low) and 1.0956.

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. The key resistance given by the 50% retracement (around 1.1236) of the decline from the September 2009 peak at 1.3065 remains thus far intact. A key support stands at 1.0911 (19/02/2014 low).

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