Euro/Pound

Advantage Oil & Gas (AAV-TSX)

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AAV-TSX (100% B wave or w3) RSI has broken above 70 and it looks as though 35 is currently holding. These RSI levels confirms the outlook for a wave3 up beginning. Wave 3 target is $9.97. Slight possible bearish implications on shorter term RSI. A break above down-trendline would negate bearish implications.

Saskatchewan Potash Corp (TSX-POT)

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An extremely important high has already been put in place. Price is expected to travel up to $126.67 before sellers come in and push the stock down to $108.68. Buyers will then enter the scenario but it will serve only as a small upward bounce before the stock hits its major low at $84.81 around Feb 9, 2010. The second leg of the sell-off will be up for assessment after the first target is met.

Goldman/Sachs Commodity Index ($GSCI)

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Price is currently supported by a 38.2% retracement and a 135 degree inflection level located at $493-$494. Wave count indicates the possibility of making an additional high up to 539.65. This remains the target unless there is a significant break below the current support level. If a break of $493 occurs then the secondary support target is 470. The GSCI is heavily weighted towards energy with 37.67% coming from Crude Oil and 13.66% coming from Brent Crude Oil. The second highest component is agriculture coming in at 14.44% including Wheat (3.29%), Corn (3.29%), Soybeans (2.47%), Sugar (2.41%).

Gold Gann Analysis

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GLD calculations begin at the $41.02 low.

GLD expands and retracts by specific degrees. After the first target of 360 is met
the next target is 270 degrees higher. The third target is 180 degrees higher than the
second degree target. The pattern contracts by 90 degrees less than the previous expansion.

360 up (70.63)

630 Up (98.10)

810 UP (118.91)

If this pattern proves to be accurate then we can expect a long and time consuming correction (or crash) after price reaches 118.91. Another high should come in at 90 degrees higher than 810, after the downside target is reached. Upside target = 900 UP (130.06)

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Downside price objectives display similar pattern characteristics.

1) 72.26 HIGH (WEEKLY) = 180 Down (56.25)

2) 100.44 HIGH (WEEKLY) = 270 Down (72.62)

3) 119.54 HIGH (WEEKLY) = 360 Down (79.80)

This pattern displays an expansion of 90 degrees per downside correction. The projected downside target is 79.80.