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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 103.80 with take Profit at 104.33
Bearish Preference:
Sell position is envisaged if price trades below 102.45 with take Profit at 101.81
Fundamentals:
No major fundamentals
Comment:
Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments.
Analysis: SCRUM Team
