Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 95.77 with take profit at 96.04.
Bearish Preference:
Sell position is envisaged if price trades below 95.09 with take profit at 94.85.
Fundamentals:
No major Fundamental.
Comment:
All energy markets are trading higher and WTI crude oil hit a new peak of US$ 94.94 bbl and Brent US$96.04bbl. The highest since September 2014. WTI oil prices have rallied aggressively and almost uninterruptedly over the past ten weeks, surging more than 40% from their December lows to trade above $91 per barrel, amid stabilizing economic recovery and supply-demand imbalances in the commodity market.
Analysis: SCRUM Team
