Instrument: OILs
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 73.25 with take profit at 73.51
Bearish Preference:
A sell position is envisaged if the price trades below 72.38 with take profit at 72.04
Fundamentals:
None with high impact
Comment:
Oil drifted lower on Tuesday as more than a week of banking turmoil kept weighing on market confidence. Oil prices now mainly depend on influences on investor confidence at the macro-level,” said analysts from Haitong Futures. “If the banking crisis does not spread further, market sentiment may stabilise and oil prices will have a chance to recover.
Analysis: SCRUM Team