Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 70.12 with take profit at 70.27.
Bearish Preference:
Sell position is envisaged if price trades below 69.68 with take profit at 69.56.
Fundamentals:
3:30pm USD Crude Oil Inventories
Comment: Oil was up Wednesday morning in Asia, even as it recorded a fifth day of declines. The fuel demand outlook remains clouded, as restrictive measures to curb the uptick in COVID-19 cases globally also keeps transport usage levels low.
Analysis: SCRUM Team