Commodity Prices

Gold •788 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,854.30	+0.50	+0.03%
WTI Crude •1 day	83.40	-0.13	-0.16%
Gasoline •1 day	3.490	+0.106	+3.12%
Ethanol •788 days	2.161	+0.000	+0.00%
Silver •788 days	30.82	+1.16	+3.92%

Silver • 788 days	30.82	+1.16	+3.92%
Copper • 788 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	88.10	-0.42	-0.47%
Natural Gas • 1 day	2.888	-0.026	-0.89%
Heating Oil • 1 day	4.357	+0.078	+1.82%

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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).

Daily Technical Report