Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 74.84 with take profit at 75.33.
Bearish Preference:
Sell position is envisaged if price trades below 73.32 with take profit at 72.85.
Fundamentals:
None with high impact on the commodity.
Comment: Oil prices were steady on Wednesday, with market players on the lookout for fuel demand pointers amid COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases.
Analysis: SCRUM Team