Instrument: OIL WTI
Bullish Preference:
A buy position is envisaged if the price trades above 80.58 with take profit at 80.91.
Bearish Preference:
A sell position is envisaged if the price trades below 80.07 with take profit at 79.84.
Fundamentals:
No High Impact
Comment:
Oil prices rose slightly in early Asian trade on Monday as focus turned to economic readings from the world’s largest oil importer due this week, with U.S. oil futures within sight of the key $80 a barrel level. Prices were still nursing two straight weeks of losses, as hawkish signals from the Federal Reserve and signs of rising U.S. production curbed optimism over major supply cuts by Saudi Arabia and Russia.
Analysis: SCRUM Team