Daily Market Analysis 25|05|2020: OIL

Daily Analysis / Online Education

Daily Market Analysis 25|05|2020: OIL

Intraday: Bullish

Technical Analysis

Buy position is envisaged if price trades above 35.94 with take profit at 36.72
Alternative scenario: 
Sell position is envisaged if price trades below 35.39 with take profit at 34.57
No major economic data with bearing on the commodity 

Comment: The commodity has been supported recently by the gradual easing of lock down boosting sentiment of improved demand.

Analysis: SCRUM Team

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