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Daily Market Analysis 26.09.2022: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 85.02 with take profit at  85.52
Bearish Preference: 
Sell position is envisaged if price trades  below 83.09 with take profit at 82.39
Fundamentals:
None with high impact

Comment: 
Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates and as a surging U.S. dollar limits the ability of non-dollar consumers to purchase crude.

Analysis: SCRUM Team

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