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FTSE plunges as oil tumbles

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FTSE plunges as oil tumbles Ipek Ozkardeskaya Global stocks started the week in the red after the oil producers failed to reach an agreement in Doha meeting over the weekend. Crude slumped the most in two months and is currently continue digging lower under the $40 mark. There could be more potential on the downside given that hedge funds were positioned relatively long before the meeting and have room to unwind their long position after having reached a 9-month high on hope that Doha meeting

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