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Brent and WTI both held key support levels......>

OIL
OIL: Brent and WTI both held key support levels yesterday, bouncing off their
respective 200-dmas and preventing serious chart damage occurring. The major oil
benchmarks are not out of the weeks yet though as the recoveries have lacked
impulse suggesting that a retest of these key levels is likely. 
- WTI looks the weaker of the two benchmarks as the Brent-WTI spread resumes its
uptrend, currently at $5.98.
- The ongoing weakness in the commodity complex is a fundamental headwind for
oil given historical correlations.  

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