Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.89 with take profit at 111.43
Bearish Preference:
Sell position is envisaged if price trades below 108.98 with take profit at 108.62
Fundamentals:
3:30pm USD Crude Oil Inventories
Comment:
Oil prices clawed back heavy losses to rise more than 2% on Wednesday on supply tightness and the growing prospect of new Western sanctions against Russia even as signs of progress emerged from peace talks between Moscow and Kyiv.
Analysis: SCRUM Team