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Daily Market Analysis 24.10.2022: OIL

Instrument: OILs

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 90.76 with take profit at  91.33
Bearish Preference: 
Sell position is envisaged if price trades below 89.54 with take profit at 88.99
Fundamentals:
None with high impact

Comment: 
Oil prices slid more than 1% on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption.

Analysis: SCRUM Team

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