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Daily Market Analysis 29/10/2021: OIL

Instrument: OILs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 84.34 with take profit at 84.58
Bearish Preference: 
Sell position is envisaged if price trades below 83.42 with take profit at 83.23
Fundamentals:
No major fundamental

Comment: Oil rose further above $84 a barrel on Friday, within sight of a multi-year high hit this week, as expectations OPEC and its allies will keep supply tight countered rising U.S. inventories and the prospect of more Iranian exports.

Analysis: SCRUM Team

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