Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 112.82 with take profit at 113.46.
Bearish Preference:
Sell position is envisaged if price trades below 109.93 with take profit at 109.47.
Fundamentals:
No major fundamental
Comment:
Russian forces are on the move again in Ukraine after being bogged down for a week. The humanitarian disaster there escalates, with the number of refugees now estimated at over 2.4 million. Oil jumps as talks to lift sanctions on Iran are paused, frustrating hopes for a quick increase in supplies of Iranian crude.
Analysis: SCRUM Team