Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 85.73 with take profit at 86.10.
Bearish Preference:
Sell position is envisaged if price trades below 84.93 with take profit at 84.65
Fundamentals:
No major fundamental
Comment: Oil prices hit their highest level in years on Monday as demand recovers from the COVID-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel. Crude oil futures rose 63 cents, or 0.7%, to $85.49 a barrel by 0645 GMT, after hitting a session-high of $86.04, the highest price since October 2018.
Analysis: SCRUM Team
