BLUE LINE = BRLUSD
The market began at the highs and ended at the lows, registering a range of 14.90c and a drop of 11.85c. During this time, 6 funds reversed while an additional 5 funds outright liquidated. In RC, which had a 3 day week, the same pattern prevailed. While spreads account for the great majority of the volume, outright volume seems toe shrinking. The N OI is less than 100k with K volume almost completely over. It appears that sentiment shows some abandonment of the market. Whether confidence by spec longs will be regained is to be seen. For now, there was good support below 120.00 and trade resistance at 130.00, closing neutrally.
Warehouse stocks have been rising and spreads have been on the weak side.