Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 70.40 with take profit at 70.59.
Bearish Preference:
Sell position is envisaged if price trades below 69.36 with take profit at 69.16.
Fundamentals:
3:30pm USD Crude Oil Inventories
Comment: Oil fell below $70 a barrel on Wednesday, pressured by a CNBC report that the White House will call on OPEC and its allies to boost production in an effort to combat climbing gasoline prices.
Analysis: SCRUM Team