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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 74.89 with take profit at 75.19.
Bearish Preference:
Sell position is envisaged if price trades below 74.40 with take profit at 74.11.
Fundamentals: No Major Fundamental.
Comment: Crude prices also rebounded Tuesday, advancing after days of losses after indications that disruptions to crude output in the U.S. Gulf of Mexico will last into next year. Royal Dutch Shell the biggest oil producer in the region, said Monday that production from two of its largest fields there will not resume until 2022 given the damage caused by Hurricane Ida in late August.
Analysis: SCRUM Team
