Daily Market Analysis 22|05|2020: OILMay 22, 2020 2020-05-22 10:39
Daily Market Analysis 22|05|2020: OIL
Buy position is envisaged if price trades above 34.90 with take profit at 35.30
Sell position is envisaged if price trades below 32.89 with take profit at 32.20
Baker Hughes Rig Count (US) 6pm
Comment: The instrument has been over bought this week eventually setting a new high and the resistance at 36.90 proving very strong and has sent the instrument back down but with a new support at 34.16, hence the bullish stance at the specified price levels.
Analysis: SCRUM Team