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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 72.51 with take profit at 72.68.
Bearish Preference:
Sell position is envisaged if price trades below 71.86 with take profit at 71.69.
Fundamentals: No major fundamentals
Comment: Oil prices rose on Friday on growing signs of tightness in U.S. markets after Hurricane Ida hit offshore output, although benchmarks were heading for weekly losses of nearly 1% after China announced plans to sell crude from its strategic reserves.
Analysis: SCRUM Team
