Daily Market Analysis 21.02.2022: OIL

Instrument: OILs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 92.15 with take profit at 93.18.
Bearish Preference: 
Sell position is envisaged if price trades below 90.30 with take profit at 89.87

No major Fundamental.

Fundamentals and geopolitics have pushed oil prices rallying by 20 percent so far this year to levels last seen in the autumn of 2014. The price at over $90 a barrel is up by more than 60 percent from this time last year, and many analysts say that $100 oil is now a matter of when, not if.

Analysis: SCRUM Team

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