Instrument: OILs+
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 85.08 with take profit at 85.57
Bearish Preference:
A Sell position is envisaged if the price trades below 84.14 with take profit at 83.67
Fundamentals:
No high-impact news affecting the instrument.
Comment:
Oil prices dip in U.S. trading as stockpiles swell Crude oil prices edged to new one-week highs, shrugging off official U.S. data which showed that crude stocks actually rose last week. That’s seven straight weeks of rising inventories, the longest such streak since 2020. Oil prices dipped in U.S. trading hours on Thursday after the country’s oil inventories hit their highest in months and on signs that the Federal Reserve could keep raising interest rates.
Analysis: SCRUM Team
