Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 83.45 with take profit at 83.66
Bearish Preference:
Sell position is envisaged if price trades below 82.91 with take profit at 82.74
Fundamentals:
None with high impact on this commodity.
Comment: Outbreaks of coronavirus infections in China and record deaths and the threat of lockdowns in Russia, along with rising cases in western Europe were putting the brakes on a multi-week rally in oil prices.
Analysis: SCRUM Team