Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 98.76 with take profit at 99.36
Bearish Preference:
Sell position is envisaged if price trades below 97.74 with take profit at 96.80
Fundamentals:
1:30pm USD PPI m/m
USD Core PPI m/m
USD Unemployment Claims
Comment:
Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil.
Analysis: SCRUM Team