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Gold bounces back as oil, stocks ease

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Today’s big news is that large oil producer nations Russia, Saudi Arabia, Qatar and Venezuela have all reached a conditional agreement to freeze, rather than cut, their crude oil production at January levels. The news has actually disappointed the market slightly because some people had hoped to see an output cut. So, oil prices have fallen back after rising sharply during the Asian session. Nevertheless, the agreement is a step in the right direction and if other major producers follow suit

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