Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 43.38 with take profit at 44.00
Alternative scenario:
Sell position is envisaged if price trades below 42.39 with take profit at 41.76
Fundamentals:
No major economic data with direct bearing on the commodity
Comment: Black gold is envisaged to benefit from the OPEC+ agreement on Saturday to extend the current supply cut for an additional month as well as the hike in the monthly price of oil from Saudi Arabia.
Analysis: SCRUM Team