Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 80.11 with take profit at 80.44
Bearish Preference:
A Sell position is envisaged if the price trades below 79.25 with take profit at 78.87
Fundamentals:
None with high impact
Comment:
Oil prices climbed today as the borders reopened in China, the world’s top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns. Despite the gains in oil today, concerns remain that the massive flow of Chinese travelers may cause another surge in COVID infections.
Analysis: SCRUM Team
