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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 83.80 with take profit at 83.92
Bearish Preference:
Sell position is envisaged if price trades below 83.40 with take profit at 83.26
Fundamentals:
No major fundamental
Comment: Over the past few weeks, oil prices have continued to proceed along a upward trajectory as commodity shortages remain a key concern for global economies. With OPEC+ expected to meet on November 4th, output cuts will likely continue to support oil’s steady rise unless the organization agrees to increase production by a larger amount.
Analysis: SCRUM Team
