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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 78.18 with take profit at 78.43
Bearish Preference:
Sell position is envisaged if price trades below 77.42 with take profit at 77.14
Fundamentals:
3:30pm USD Crude Oil Inventories
Comment: Few could have predicted that after an already extensive bull run this year amid recovering demand, oil prices had much further to go. And yet, the world’s most traded commodity just got a major boost from the gas crunch in Europe and Asia, prompting forecasters to update their forecasts.
Analysis: SCRUM Team
