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Instrument: OIL
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 105.19 with take profit at 106.49
Bearish Preference:
Sell position is envisaged if price trades below 102.77 with take profit at 101.46
Fundamentals:
1:30pm USD Advance GDP q/q
Comment:
Oil rose more than $1 a barrel on today, extending gains from the previous session, buoyed by improved risk appetite among investors as lower crude inventories and a rebound in gasoline demand in the United States supported prices.
Analysis: SCRUM Team
