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Declines in Hong Kong's Hang Seng index are slowing, reports Saxo Bank head of equities strategy Peter Garnry, but the Chinese tech sector continues to sell off, particularly in Shenzhen and on the Shanghai-Shenzhen CSI 300 index.
Squawk / 16 June 2016 at 12:22 GMT
Head of Commodity Strategy / Saxo Bank
Denmark
Both WTI and Brent crude are trying to establish some support after both retracing half of the supply disrupted rally seen during May. The six straight days of selling have been driven by the drive to reduce riskier positions ahead of next weeks UK referendum. Bullish crude bets hit a combine total of 633M barrels in the week ending June 7. The reduction of these combined with a stronger dollar and growth concerns following the latest FOMC meeting have driven the selling. Additional weakness would target the 61.8% retracement at $46.35 and $47.00 respectively on WTI and Brent crude.
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John Roberti John Roberti
dear Ole Thank you for your analysis of Brent and WTI. You have been sharp on the edge! They both reached your target now. May I ask again your advise now on this new sitauatuio
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John Roberti John Roberti
situation? Thanks again in advance for your opinion

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