Daily Market Analysis 26.04.2022: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 103.89 with take profit at 104.27
Bearish Preference: 
Sell position is envisaged if price trades below 102.27 with take profit at 101.89
No major Fundamental.

Demand concerns in China, the world’s largest crude oil importer, added downward pressure on Tuesday. China’s capital Beijing has expanded its COVID-19 mass testing to much of the city of nearly 22 million, as the population braced for an imminent lockdown similar to Shanghai’s stringent curbs.

Analysis: SCRUM Team

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