Daily Market Analysis 20.03.2023: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
A buy position is envisaged if the price trades above 73.54 with take profit at 74.90
Bearish Preference: 
A sell position is envisaged if the price trades below 69.88 with take profit at 68.39
None with high impact

Oil prices fell on Monday, reversing early gains as anticipation of a Federal Reserve meeting and concerns over weakening demand this year largely offset measures by major central banks to ease market fears of a looming banking crisis.

Analysis: SCRUM Team

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