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Instrument: OILS+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 92.45 with take profit at 93.12
Bearish Preference:
Sell position is envisaged if price trades below 91.18 with take profit at 90.55
Fundamentals:
No Major fundamental News
Comment:
Oil prices were little changed on Wednesday ahead of a meeting of OPEC+ producers to discuss a big cut in crude output after gaining more than 3% in the previous session. The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, together called OPEC+, will meet in Vienna later on Wednesday to discuss output cuts of up to 2 million barrels per day (bpd), an OPEC source told Reuters.
Analysis: SCRUM Team
