Two trades to watch: FTSE, WTI crude oil
Fiona Cincotta March 1, 2021 7:23 AM
FTSE set to open higher on falling US treasury yields, US stimulus progress. WTI crude oil rises on economic recovery optimism, Iran news
FTSE jumps 1% on falling yields US stimulus progress
Whilst the trendline holds, the bulls will look towards the 50 sma at 6600 with a move beyond here bringing 6700 last week’s high into focus. Past this level the bulls could gain momentum targeting 6810 the yearly high.
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WTI rises on economic recovery optimism & Iran news
The bulls would need to push past the Doji candle formation at the 13-month high of $63.71 in order to target $65.90 the upper band of the ascending channel & high from 2019.
On the flip side immediate support can be seen at 6150 the lower band of the channel ahead of $60.00 the key psychological level and $59.80 the 20 sma.
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