Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 72.81 with take profit at 73.02.
Bearish Preference:
Sell position is envisaged if price trades below 72.18 with take profit at 71.99.
Fundamentals: No major Fundamentals
Comment: Oil prices were mixed on Tuesday as some investors scooped up bargains following recent losses, while Saudi Arabia’s sharp cuts in crude contract prices for Asia sparked fears over slower demand and weighed on sentiment. State oil group Saudi Aramco notified customers on Sunday that it will cut October official selling prices (OSPs) for all crude grades sold to Asia by at least $1 a barrel.
Analysis: SCRUM Team