Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 69.97 with take profit at 70.25.
Bearish Preference:
Sell position is envisaged if price trades below 68.45 with take profit at 68.13.
Fundamentals:
No major fundamental.
Comment: Crude oil prices extended lower during Monday’s APAC mid-day session, marking a three-day decline of 2.35%. The release of poorer-than-expected Chinese industrial production and retail sales figures weighed on energy prices, showing that the world’s second-largest economy is struggling to maintain growth momentum amid viral resurgence.
Analysis: SCRUM Team
