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Daily Market Analysis 07|04|2021: OIL

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Daily Analysis / Online Education

Daily Market Analysis 07|04|2021: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 63.36 with take profit at 63.77.
Bearish Preference: 
Sell position is envisaged if price trades below 62.30 with take profit at 62.05.
Fundamentals:
3:30pm USD Crude Oil Inventories

Comment: Oil prices edged higher on Wednesday on the prospects for stronger global economic growth amid increased COVID-19 vaccinations and a report that crude inventories in the United States- the world’s biggest fuel consumer, fell.

Analysis: SCRUM Team

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