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It looks like short covering to me. The OI increased dramatically, spreads are playing a role in the volume but on face value it looks like new shorts. It could be funds or it could be other specs. The Real weakness that we saw this week is related more to the systemic weakness of currencies, or $ strength. Today the $ is very weak and the key currencies are now positive but the BRICs are still down. USDBRL is 4.395 +0.0017 (+0.04%) and USDCOP is 3,412.55 +11.15 (+0.33%). USDMXN btw is 19.05 +0.223 (+1.18%). I understand that physical differentials are very strong. Possibly others can comment on this. Donít know if this is a key reversal. The usual sellers will be present as the market rises. Sellers are already showing themselves as prices entertain the 110.00 level. A little resistance here.