Month: April 2021

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LONDON: Hedge funds were small buyers of petroleum last week as managers repurchased some short positions after heavy selling and price falls the previous week. Money managers purchased the equivalent of 10 million barrels in the six most important futures and options contracts in the week to March 30. Previous bearish short positions were trimmed
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Positive sentiment sent German DAX to new record high today, while US futures point to a firm open. Investors are becoming more optimistic on the upcoming recovery, as seen in Eurozone Sentix data. IMF also raised growth forecast of the whole world and all advanced economies. The movements in the forecast markets are mixed though.
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Silver’s daily closing above 200-DMA on Tuesday keeps the buyers hopeful. Although the 21-DMA offers immediate resistance to XAG/USD. RSI stays bearish, suggesting limited upside attempts. Silver (XAG/USD) is struggling to extend Tuesday’s rebound above the critical 200-daily moving average (DMA), now at $25.00. Despite the spot gave a daily closing above that level, the bulls
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