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Instrument: OIL
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 84.43 with take profit at 84.55
Bearish Preference:
Sell position is envisaged if price trades below 84.05 with take profit at 83.89
Fundamentals:
4:00pm Crude Oil Inventories
Comment: The American Petroleum Institute (API) said on Wednesday U.S. crude stockpiles rose by 5.2 million barrels for the week ended Oct. 8, but gasoline inventories fell by 4.6 million barrels and distillate stocks declined by 2.7 million barrels, according to market sources who saw the API data.
Analysis: SCRUM Team
