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WTI, Brent Make Progress as USD in the Red

COMMODITIES

Both WTI and Brent crude futures traded well Wednesday, notching up gains of close to 1% as the USD traded soft. The rally in WTI stopped just short of the cycle highs printed on Jan13 at $53.93, with the price action capped ahead of that level.

Both gold and silver traded well despite strength in global equity markets. Both metals added over 1% apiece, allowing spot gold to break north of the 50-dma resistance that had successfully contained price action this week at $1,860.19.

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