Commodity Prices

Gold •777 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,812.30	+1.80	+0.10%
WTI Crude •11 mins	84.60	+0.21	+0.25%
Gasoline •28 mins	3.199	-0.056	-1.71%
Ethanol •777 days	2.161	+0.000	+0.00%
Silver •777 days	30.82	+1.16	+3.92%

Silver • 777 days	30.82	+1.16	+3.92%
Copper • 777 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	91.97	+0.35	+0.38%
Natural Gas • 13 mins	2.785	-0.029	-1.03%
Heating Oil • 15 mins	4.435	-0.017	-0.38%

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USD/CHF - Monitor The Short-Term Declining Channel

By - Aug 19, 2014, 5:29 AM CDT

USD/CHF strengthened yesterday, erasing all the losses made on Friday. Monitor the resistance implied by the declining channel (around 0.9091). Another resistance lies at 0.9115. A key support stands at 0.9008 (see also the rising trendline). Another support can be found at 0.8969 (17/07/2014 low).

From a longer term perspective, the recent technical improvements call for the end of the large corrective phase that started in July 2012. The long-term upside potential implied by the double-bottom formation is 0.9207. Furthermore, the break of the resistance at 0.9037 calls for a second leg higher (echoing the one started on 8 May) with an upside potential at 0.9191. As a result, a test of the strong resistance at 0.9156 (21/01/2014 high) is expected.

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