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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 109.02 with take profit at 109.66
Bearish Preference:
Sell position is envisaged if price trades below 107.08 with take profit at 106.53
Fundamentals:
None with high impact on the Commodity
Comment:
Fears of a sharp economic slowdown in China and higher oil prices weighed on most Asian stocks on Thursday, but a dip in U.S. treasury yields offered some relief for broader markets worried by the prospect of aggressive rate hikes. Chinese and Hong Kong shares hit month lows and the yuan fell to its lowest in six months as Shanghai authorities said tough COVID-19 restrictions would remain in place.
Analysis: SCRUM Team
