Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 110.73 with take profit at 111.03
Bearish Preference:
Sell position is envisaged if price trades below 109.53 with take profit at 109.12
Fundamentals:
No Major Fundamental
Comment:
Oil prices fell on Monday as widespread lockdowns in China and weak economic data in the country fuelled fears of a global recession, though the market found some support as the European Union stepped closer to an import ban on Russian crude.
Analysis: SCRUM Team
