Instrument: OILs
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 78.41 with take profit at 78.69
Bearish Preference:
A sell position is envisaged if the price trades below price 77.76 with take profit at 77.47.
Fundamentals:
None with High Impact.
Comment:
Oil prices moved little on Friday as Chinese business activity data offered mixed economic cues on the world’s largest crude importer, while markets also awaited fresh direction from an OPEC meeting next week. Signs of tightening supply also aided crude prices this week, as legal disputes saw crude exports from Iraqi Kurdistan halted, while U.S. inventories fell sharply amid signs of a pickup in refiner demand.
Analysis: SCRUM Team
