Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 87.89 with take profit at 88.23 .
Bearish Preference:
Sell position is envisaged if price trades below 87.22 with take profit at 86.86.
Fundamentals:
No major fundamental
Comment: The price of oil falls back from a fresh yearly high ($87.10) amid an unexpected rise in US inventories, and looming developments in Relative Strength Index (RSI) may indicate a larger pullback for crude if the oscillator falls below 70 to offer a textbook sell signal.
Analysis: SCRUM Team