Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 95.45 with take profit at 95.67
Bearish Preference:
Sell position is envisaged if price trades below 94.69 with take profit at 94.46
Fundamentals:
No major fundamental
Comment:
crude oil prices fell about 2.5 percent on Monday, the worst single-day performance since September 26th. This is despite an impressive almost 17% rally last week. The latter was triggered by plans from OPEC+ to reduce output in the coming months amid the decline in energy prices since earlier this year, opening the door to reduced supply.
Analysis: SCRUM Team