Daily Market Analysis 20.01.2023: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if the price trades above 86.94 take profit at 87.14
Bearish Preference: 
A Sell position is envisaged if the price trades below 86.08 take profit at 85.89
All Day WEF Annual Meetings

Oil prices were set to post a second straight weekly gain on Friday, spurred largely by brightening economic prospects for China which should boost fuel demand in the world’s second-biggest economy.

Analysis: SCRUM Team

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