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Daily Market Analysis 22/09/2021: OIL

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Instrument: OILs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 74.81 with take profit at 74.96.
Bearish Preference: 
Sell position is envisaged if price trades below 74.18 with take profit at 73.93.
Fundamentals: 3:30pm USD Crude Oil Inventories

Comment: Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.

Analysis: SCRUM Team

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