Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 102.66 with take profit at 103.11
Bearish Preference:
Sell position is envisaged if price trades below 101.67 with take profit at 101.07
Fundamentals:
No major Fundamental.
Comment:
Oil prices slumped to about two-week lows on Monday, extending losses from last week, as concerns grew that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would hurt global economic growth and demand for fuel.
Analysis: SCRUM Team