Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 73.51 with take profit at 73.78.
Bearish Preference:
Sell position is envisaged if price trades below 72.55 with take profit at 72.26.
Fundamentals:
No major fundamental.
Comment: Having staged the mother of all “Delta-dips,” followed by the mother of all FOMO buy-the-dip rallies last week, oil now finds itself roughly where it was post-OPEC+ the previous week. Brent crude on Friday was hardly changed, closing at USD74.15 a barrel.
Analysis: SCRUM Team
