Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 95.62 with take profit at 95.89
Bearish Preference:
A Sell position is envisaged if price trades below price 94.70 with take profit at 94.46
Fundamentals:
None with high impact
Comment:
Oil prices slumped on Monday, ending three days of gains, as investors were concerned aggressive U.S. interest rate hikes will weaken the global economy and dent fuel demand while a strengthening dollar also added to pressure.
Analysis: SCRUM Team