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Posted by Tango
on May 27, 2019, 5:53 pm
Friday was a day where buying continued and met great resistance above 94.00. Based on the COT, both managed money and large traders were buyers. Based on market direction itís likely that this pattern continued. The OI showed increases but outright activity may be camouflaged by spreads. On Friday the OI went down with lots of action across the board.
Markets ended with metals slightly higher and most currencies down against the $. The USDBRL closed around 4.04388, the high of the day, with a low of 4.01394. The weather was non threatening as everyone expected. We will see however if the market will open with weakness.