Buy position is envisaged if price trades above 93.43 with take profit at 93.76.
Sell position is envisaged if price trades below 92.73 with take profit at 92.37.
No Major Fundamental
Oil dropped from a seven-year high to around $94 a barrel on Tuesday, pressured by a report that some troops in Russia’s military districts adjacent to Ukraine are returning to bases, a move that could de-escalate tension between Moscow and the West. In other developments, the latest weekly reports on U.S. inventories are expected to show a drop in crude stocks, underlining a tight supply and demand balance.
Analysis: SCRUM Team