Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 85.02 with take profit at 85.52
Bearish Preference:
Sell position is envisaged if price trades below 83.09 with take profit at 82.39
Fundamentals:
None with high impact
Comment:
Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by rising worldwide interest rates and as a surging U.S. dollar limits the ability of non-dollar consumers to purchase crude.
Analysis: SCRUM Team
