Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 74.25 with take profit at 74.45.
Bearish Preference:
Sell position is envisaged if price trades below 73.67 with take profit at 73.45.
Fundamentals: No Major Fundamentals
Comment: Surging energy prices in Europe are hurting more than just consumers. The price spikes have started to hit industrial activities, threatening to deal a blow to the post-COVID recovery in European economies with a triple whammy of reduced consumer purchasing power, lower industrial production, and higher operating costs. investors await the latest U.S. Federal Reserve policy decision.
Analysis: SCRUM Team
