Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 88.94 with take profit at 89.22 .
Bearish Preference:
Sell position is envisaged if price trades below 88.36 with take profit at 87.99.
Fundamentals:
No major fundamental
Comment: Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand. furthermore, the market expects supply will stay tight as the OPEC+ is seen to keep the existing policy of gradual increase in production.
Analysis: SCRUM Team