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Daily Market Analysis 30.03.2022: OIL

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

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