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Instrument: OILs
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 79.93 with take profit at 80.32
Bearish Preference:
A sell position is envisaged if the price trades below 79.30 with take profit at 78.89.
Fundamentals:
None with High Impact.
Comment:
Oil prices fell on Monday as jitters over the economic impact of the U.S. Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data were enough to outweigh support from new OPEC+ supply cuts taking effect this month.
Analysis: SCRUM Team
