Instrument: OIL
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 128.28 with take profit at 130.42 .
Bearish Preference:
Sell position is envisaged if price trades below 123.01 with take profit at 121.03
Fundamentals:
4:30pm USD Crude Oil Inventories
Comment:
Oil has slipped lower than $125 a barrel in volatile trading on Wednesday as investors assessed the U.S. ban of Russian oil imports and Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee.
Analysis: SCRUM Team
