Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 103.66 with take profit at 103.96
Bearish Preference:
A Sell position is envisaged if price trades below price 102.46 with take profit at 102.25
Fundamentals:
No major fundamental
Comment:
Crude oil has recovered at the start of this week as supply issues continue to cause concern for energy reserves going into the Northern hemisphere autumn. This is despite a broadly stronger US Dollar in the aftermath of the Federal Reserve meeting last week that pointed toward higher rates for longer than the market had previously anticipated.
Analysis: SCRUM Team