Instrument: OIL
Bullish Preference:
A buy position is envisaged if the price trades above 79.24 with take profit at 79.57.
Bearish Preference:
A sell position is envisaged if the price trades below 78.55 with take profit at 78.20
Fundamentals:
None with High Impact
Comment:
Oil prices extended their decline into a second session on Monday after China’s second-quarter growth came in weaker than expected, fuelling concern about demand in the world’s No. 2 oil consumer, while Libya resumed production on the weekend.
Analysis: SCRUM Team