Instrument: OIL. WTI
Bullish Preference:
Buy position is envisaged if price trades above 72.86 with take profit at 73.78
Bearish Preference:
Sell position is envisaged if price trades below 71.59 with take profit at 71.18
Fundamentals:
None with Expected High Impact
Comment:
Oil prices rose over 1% in Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption.
Russia said on Sunday it would deepen oil export cuts in December by potentially 50,000 barrels per day or more, earlier than promised, as the world’s biggest exporters try to support global oil prices.
Analysis: SCRUM Team