Instrument: OILS
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 113.26 with take profit at 113.78
Bearish Preference:
Sell position is envisaged if price trades below price 111.83 with take profit at 111.49
Fundamentals:
3:00PM US DOLLARS: Crude Oil Inventories
Comment:
Crude oil prices were trading higher through early Asia-Pacific trading on Tuesday, extending gains from the prior day and putting Brent and WTI prices on track to snap a two-week losing streak. Energy traders hit the buy button despite a pullback in risk sentiment that sent US stocks lower on the opening day of US trading.
Analysis: SCRUM Team
