Daily Market Analysis 16.03.2023: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if the price trades above 75.54 with take profit at 76.40
Bearish Preference: 
A Sell position is envisaged if the price trades below 72.80 with take profit at 71.75
No major fundamental

Oil prices are still Thursday lower, after rebounding from 15-month lows as the financial lifeline to Credit Suisse helped boost risk sentiment, diluting concerns that a full-blown banking crisis would stymie global economic activity.

Analysis: SCRUM Team

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