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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 128.62 with take profit at 129.68.
Bearish Preference:
Sell position is envisaged if price trades below 125.21 with take profit at 124.39.
Fundamentals:
No major Fundamental
Comment:
President Joe Biden’s administration is willing to move ahead with a U.S. ban on Russian oil imports even if European allies do not, U.S. sources indicated, while Russia warned that prices could surge to $300 a barrel and it might close the main gas pipeline to Germany if the West halts oil imports over the invasion of Ukraine.
Analysis: SCRUM Team
