Finally we do have a bigger correction on Oil. WTI is going down for the fourth day in a row and in the meantime, the price broke the lower line of the channel up formation and the mid-term up trendline. The next target for this drop is the horizontal support on the 66.1 USD/bbl.
The second commodity in our short report is the Gold, which climbed significantly higher and reached the resistance on the 1305 USD/oz. That was expected few days ago as the price created a hammer candle on the long-term up trendline and also made a false breakout from the mid-term rectangle. Current price action signals that the optimism can continue and we should see a further rise.
USD/CAD broke the upper line of the symmetric triangle but is still struggling with the breakout of the horizontal resistance. We can see some signs that this should eventually happen as the buying pressure rises with every single test of this area. The sentiment is positive.