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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 101.62 with take profit at 101.97
Bearish Preference:
Sell position is envisaged if price trades below 100.62 with take profit at 100.31
Fundamentals:
None with high impact on the commodity
Comment:
Oil prices rose on Friday but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks. Brent crude futures were up 71 cents, or 0.7% to $101.29 a barrel at 1056 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 85 cents, or 0.9%, to $96.88 a barrel.
Analysis: SCRUM Team
