Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 83.97 with take profit at 84.54.
Bearish Preference:
A Sell position is envisaged if price trades below price 82.18 with take profit at 81.44.
Fundamentals:
No major fundamental
Comment:
Oil prices dipped on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer. The scale of the latest outbreak and doubts over official data prompted some countries to enact new travel rules on Chinese visitors, even as China began dismantling the world’s strictest COVID regime of lockdowns and testing.
Analysis: SCRUM Team
