Instrument: OIL
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 96.15 with take profit at 96.43
Bearish Preference:
A Sell position is envisaged if price trades below price 95.14 with take profit at 94.94
Fundamentals:
No major fundamental
Comment:
Gold prices recovered sharply from a six-week low on Tuesday as a worsening energy crisis in Europe drove up safe-haven demand, while copper extended gains on expectations of more Chinese stimulus measures. Spot gold jumped 0.5% to $1,718.95 an ounce, while gold futures were up 0.5% at $1,730.0 by 21:03 ET (01:03 GMT). Both instruments were recovering from a six-week low hit earlier in the month.
Analysis: SCRUM Team