Daily Market Analysis 09.03.2022: OIL

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
4:30pm USD Crude Oil Inventories 

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

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