Two trades to watch: FTSE, WTI crude oil
Fiona Cincotta March 1, 2021 3:23 PM
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.
Learn more about trading indices
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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