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Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 84.79 with take profit at 84.95
Bearish Preference:
A Sell position is envisaged if the price trades below 84.05 with take profit at 83.83
Fundamentals:
No major fundamental
Comment:
Oil prices fell on Friday, but were poised for a weekly gain as renewed optimism on China’s demand recovery over-rode recession worries brought by growing crude inventories in the U.S. and tightening monetary policy in Europe.
Analysis: SCRUM Team
