Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 84.81 with take profit at 85.01
Bearish Preference:
A Sell position is envisaged if the price trades below 83.78 with take profit at 83.60
Fundamentals:
No high-impact news affecting the instrument.
Comment:
Oil prices edged lower on Friday but were set for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world’s top oil importer.
Analysis: SCRUM Team
