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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 108.88 with take profit at 109.24
Bearish Preference:
Sell position is envisaged if price trades below 107.27 with take profit at 106.90
Fundamentals:
No major fundamental
Comment:
Oil prices rose for a fourth day on Friday as Russian supply disruption fears trumped COVID-19 lockdowns in China, the world’s biggest crude importer, that are weighing on demand. Still, oil prices have been volatile as China has shown no sign of easing lockdown measures despite the impact on its economy and global supply chains.
Analysis: SCRUM Team
