Instrument: OIL
Bullish Preference:
Buy position is envisaged if price trades above 76.86 with take profit at 77.38
Bearish Preference:
Sell position is envisaged if price trades below 75.57 with take profit at 75.27
Fundamentals:
USD: Core CPI m/m 2:30 PM
CPI m/m 2:30PM
CPI y/y 2:30PM
Comment:
Oil slipped on Tuesday, giving up earlier gains, as concern over excess supply and slowing demand growth outweighed escalating supply risks in the Middle East after an attack by the Iran-aligned Houthis on a tanker.
Analysis: SCRUM Team