Instrument: OIL
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 44.28 with take profit at 44.67.
Alternative scenario:
Sell position is envisaged if price trades below 43.73 with take profit at 43.34.
Fundamentals:
3:30pm USD Crude Oil Inventories.
Comment: Although Oil prices fell in the early session due to oil inventory expectations, price could not break the verified support on the H1 therefore is expected to trade higher pending the actual release of the crude oil inventory.
Analysis: SCRUM Team