Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 89.34 with take profit at 89.59.
Bearish Preference:
Sell position is envisaged if price trades below 88.99 with take profit at 88.80.
Fundamentals:
No Major Fundamental
Comment: Crude oil continues to press higher to start the month after a 17.2% rally in January. Geopolitical risks on the Ukrainian border, OPEC+ inability to lift production supply, and an icy storm front heading into North America have all propelled black gold higher.
Analysis: SCRUM Team