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Oil Moderating, Futures Curve Still Strong

COMMODITIES
  • The oil rally is moderating ahead of the Thursday open, with both WTI and Brent crude futures in negative territory. The move lower in oil comes despite the downside in the greenback this morning, which is unwinding some of the strength seen earlier in the week.
  • Gold's recovery off the $1770.51 Wednesday low is intact, with prices topping $1790 to target the week's best levels of $1799. A break and close above here as well as the 100-dma would improve the outlook and resume the April uptrend.

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