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Daily Market Analysis 24|03|2021: OIL

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Instrument: OILs Technical Analysis Bullish Preference:  Buy position is envisaged if price trades above 62.69 with take profit at 63.58. Bearish Preference: Sell position is envisaged if price trades below 61.05 with take profit at 60.85. Fundamentals:3:30pm  USD Fed Chair Powell Testifies Comment: Oil prices rose more than 1% on Wednesday as investors sought bargains following the previous day’s slump, but the …

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Daily Market Analysis 14|04|2020: OIL

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Intraday: Bearish * Technical Analysis * Preference: A Sell position is envisaged if price trades below 31.76 with take profit at 30.74 * Alternative scenario: A Buy position is envisaged if price trades above 32.34 with take profit at 33.08 * Fundamentals:No major economic data with direct bearing on the currency pair Comment: OPEC agreed over Easter to cut …

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