Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 73.64 with take profit at 73.88.
Bearish Preference:
Sell position is envisaged if price trades below 72.88 with take profit at 72.63.
Fundamentals:
None with high impact.
Comment: Oil was up Friday morning in Asia, but was headed towards the biggest weekly decline since mid-March 2021. Worsening outbreaks of COVID-19 involving the Delta variant in some countries and uncertainty over an Organization of the Petroleum Exporting Countries and allies (OPEC+) deal to boost supply clouded the short-term outlook for the black liquid.
Analysis: SCRUM Team