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Daily Market Analysis 22/10/2021: OIL

Instrument: OILs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 84.28 with take profit at 84.46.
Bearish Preference: 
Sell position is envisaged if price trades below 83.01 with take profit at 82.78.
Fundamentals:
No Major Fundamental

Comment: Crude prices edged lower Friday, continuing the previous session’s selling after Russian President Vladimir Putin indicated that a group of top producers, known as OPEC+, could increase supply by more than had previously been announced.

Analysis: SCRUM Team

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