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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 118.02 with take profit at 118.67
Bearish Preference:
Sell position is envisaged if price trades below 115.04 with take profit at 114.08
Fundamentals:
No major fundamentals
Comment:
Consumers can expect fuel prices at the pump to remain high into next year due to disruptions to Russian oil supplies and as refineries struggle to meet demand recovering from the pandemic. For now, record gasoline and diesel prices in the United States, Europe and elsewhere have cooled global oil demand by around 1 million barrels per day (bpd), roughly 1% of global demand
Analysis: SCRUM Team
