Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 72.07 with take profit at 72.71.
Bearish Preference:
Sell position is envisaged if price trades below 71.36 with take profit at 70.76.
Fundamentals:
No Major Fundamental.
Comment: Oil prices extended gains on Friday, but remained on track for their biggest weekly decline since March as travel restrictions to curb the spread of the COVID-19 Delta variant are raising concerns about fuel demand.
The Delta variant is now really starting to hit home and you see risk aversion in many markets, not just oil.
Analysis: SCRUM Team