Instrument: OIL
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 73.24 with take profit at 73.52.
Bearish Preference:
Sell position is envisaged if price trades below 72.48 with take profit at 72.18.
Fundamentals:
None with high impact on the commodity.
Comment: Oil prices fell for a third day straight on Wednesday on growing signs that supply growth will outpace demand next year, and as the World Health Organization said COVID-19 vaccines may be less effective against the Omicron variant.
Analysis: SCRUM Team