Instrument: OILS
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 123.63 with take profit at 123.86
Bearish Preference:
Sell position is envisaged if price trades below 122.63 with take profit at 122.26
Fundamentals:
NO MAJOR FUNDAMENTALS
Comment:
After a brief hiatus, the oil price rally is back on track. Crude oil closed with its seventh straight weekly gain thanks to tight fuel supplies sustaining bullish sentiment. After a brief fall on Friday following news that U.S. inflation surged to a fresh 40-year high.
Analysis: SCRUM Team
