Skip to content 
Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 72.25 with take profit at 72.44.
Bearish Preference:
Sell position is envisaged if price trades below 71.43 with take profit at 71.25.
Fundamentals:
No major Fundamentals
Comment: Oil prices fell on Tuesday morning as fears grew that Asian demand would not recover as quickly as originally expected. Supply disruptions from Hurricane Ida were not significant enough to counter this bearish news but on Wednesday, prices climbed recouping some overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico and resumption of refining activities providing support.
Analysis: SCRUM Team
