Skip to content 
Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 82.67 with take profit at 83.74
Bearish Preference:
Sell position is envisaged if price trades below 80.49 with take profit at 79.70
Fundamentals:
No major fundamental
Comment:
Oil prices fell sharply to a near 11-month low on Monday as escalating protests in several major Chinese cities ramped up concerns over increased economic disruptions in the world’s largest crude importer. Crude prices are also under pressure from major importers China and India buying heavily discounted crude from Russia, while Western nations struggle to impose a price cap on Moscow’s oil exports.
Analysis: SCRUM Team
