fbpx

Daily Market Analysis 10.08.2022: OIL

Instrument: OIL

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 96.08 with take profit at 96.49
Bearish Preference: 
Sell position is envisaged if price trades  below 95.21 with take profit at 94.80
Fundamentals:
No major fundamental

Comment: 
Oil prices fell on Wednesday ahead of a key U.S. report on inflation and after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. “The oil price and the Asian market all showed a weak trend,” said Leon Li, a Shanghai-based analyst at CMC Markets, adding that market uncertainty over U.S. July inflation data “limits the rebound of oil prices today.”

Analysis: SCRUM Team

Leave a Comment

Your email address will not be published.

×
Free Online Class
Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Color
  • Additional information
  • Attributes
  • Custom fields
Compare
Wishlist 0
Open wishlist page Continue shopping