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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 120.88 with take profit at 121.12
Bearish Preference:
Sell position is envisaged if price trades below 119.95 with take profit at 119.72
Fundamentals:
No major fundamentals
Comment:
Oil prices edged lower on Friday as demand concerns emerged following this week’s rate hikes, although persisting supply tightness and new sanctions on Iran limited the downside.
Analysis: SCRUM Team
