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Daily Market Analysis 07.03.2022: OIL

Instrument: OILs

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 131.46 with take profit at 132.46.
Bearish Preference: 
Sell position is envisaged if price trades below 127.21 with take profit at 125.69.
Fundamentals:
No major Fundamental


Comment: 
Crude oil prices roared higher at the weekly trading open as the deepening crisis in Ukraine stoked speculation about another round of still-harsher Western sanctions against Russia. As the fighting spreads to engulf more of the civilian population, headlines foreshadowing a Western ban of Russian energy exports have emerged.

Analysis: SCRUM Team

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