Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 101.00 with take profit at 101.41
Bearish Preference:
Sell position is envisaged if price trades below 99.66 with take profit at 99.25
Fundamentals:
No major Fundamental.
Comment:
Oil prices climbed on Tuesday on easing concerns about demand in China after Shanghai relaxed some COVID-19-related restrictions and OPEC warned it would be impossible to increase output enough to offset lost Russian supply.
Analysis: SCRUM Team