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Brent and WTI gave up some of Friday's huge.....>

OIL
OIL: Brent and WTI gave up some of Friday's huge gains yesterday are are trading
flat today with WTI clinging above its 50DMA and Brent struggling to push above
its 50DMA. The broader trend for both markets remains bullish, with a close
above $76 for Brent (currently at 74.90) likely to trigger a bullish break out
of its month-long flag formation.
- Oil prices shrugged off yesterday's weakness in the broader commodity complex,
with copper prices hit particularly hard. The ratio of Brent over the Continuous
Commodity Index is testing its highest level since 2014, and in
volatility-adjusted terms its outperformance extends all the way back to 2009. 

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