Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.39092 with take profit at 1.38737
Alternative scenario:
Buy position is envisaged if price trades above 1.39711 with take profit at 1.40137
Fundamentals:
No major economic data with direct bearing on the commodity expected today
Comment: The Canadian dollar is on the rise amid the better market mood and oil prices remain on the rise. Private inventory data has shown a surprising draw, supporting crude prices. Inflation figures for April are due out in Canada.
Analysis: SCRUM Team