Instrument: OILs
Bullish Preference:
A buy position is envisaged if the price trades above 80.40 with take profit at 80.78.
Bearish Preference:
A sell position is envisaged if the price trades below 80.07 with take profit at 79.74.
Fundamentals:
None with High Impact
Comment:
China’s stimulus to push up growth (supportive policies) and its outlook for demand for oil is on an increase US summer demand for oil will also boost the prices of oil further up US crude oil inventories came in lower Asides from the production cut Iraq has announced its plan of becoming the highest producer of oil by producing 13m bpd
Analysis: SCRUM Team