Commodity Prices

Gold •682 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,991.80	-99.60	-4.76%
WTI Crude •1 day	105.42	+4.25	+4.20%
Gasoline •1 day	3.702	+0.096	+2.67%
Ethanol •682 days	2.161	+0.000	+0.00%
Silver •682 days	30.82	+1.16	+3.92%

Silver • 682 days	30.82	+1.16	+3.92%
Copper • 682 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	109.26	+3.54	+3.35%
Natural Gas • 1 day	2.960	+0.066	+2.28%
Heating Oil • 1 day	4.053	+0.148	+3.78%

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GBP/USD: Surging Higher

By - Apr 09, 2014, 5:41 AM CDT

GBP/USD rose sharply higher yesterday, breaking the resistances at 1.6684 and 1.6718 (see also the declining trendline). Resistances can now be found at 1.6786 and 1.6823. The short-term bullish momentum is intact as long as the hourly support at 1.6684 (previous resistance) holds. Another support lies at 1.6556.

In the longer term, prices continue to move in a rising channel. As a result, a bullish bias remains favoured as long as the support at 1.6460 holds. A major resistance stands at 1.7043 (05/08/2009 high).

Daily Technical Report