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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 71.52 with take profit at 71.81.
Bearish Preference:
Sell position is envisaged if price trades below 70.92 with take profit at 70.32.
Fundamentals: No major fundamental
Comment: Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend.
Analysis: SCRUM Team
