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Posted by Tango
on February 3, 2021, 8:28 am
Yesterday, as the market hit the lows of 122.70, good bids were starting to show in the front months and to a lesser degree in the forwards but building up. I thought that it was a good time to go long. Now resistance was present as prices reached the strike of 125.00. It is still steady for now even though prices eased to 124.00. Also worth mentioning that forward selling was present at higher prices and some forward spread buying. This selling ceased yesterday as the market weakened. USDBRL is 5.346, USDCOP is 3,515.78
Vaccines canít be produced fast enough but itís good news that Sputnik V is promising. Most markets are higher.