Instrument: Oils
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 74.70 with take profit at 74.88.
Bearish Preference:
Sell position is envisaged if price trades below 74.30 with take profit at 74.15.
Fundamentals:
3:30 pm USD Crude Oil Inventories
Comment: Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await a Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy.
Analysis: SCRUM Team