Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 74.69 with take profit at 74.95.
Bearish Preference:
Sell position is envisaged if price trades below 74.09 with take profit at 73.86.
Fundamentals:
No major fundamental.
Comment: Crude oil prices pulled back slightly during Monday’s APAC mid-day session after rising 3.5% over the last two days. The emergence of the Delta variant of Covid-19 is threatening a new round of lockdowns around the world, casting a shadow over the outlook for energy demand. A stronger US Dollar also weighed on commodity prices.
Analysis: SCRUM Team