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Instrument: OIL
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 68.55 with take profit at 69.28.
Bearish Preference:
Sell is envisaged if price trades below 67.75 with take profit at 66.96.
Fundamentals:
None with high impact on the commodity.
Comment: Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and U.S. fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month’s Texas storm.
Analysis: SCRUM Team
