Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 71.08 with take profit at 71.28.
Bearish Preference:
Sell position is envisaged if price trades below 69.88 with take profit at 69.68.
Fundamentals:
3:30pm USD Crude Oil Inventories
Comment: Crude oil prices followed risk assets higher, shaking off the first weekly rise in U.S. crude oil stocks since May. Figures from the American Petroleum Institute on Tuesday suggested that inventories rose by over 800,000 barrels, breaking an eight-week streak of draws on stockpiles.
Analysis: SCRUM Team