Instrument: OIL
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above 74.92 with take profit at 75.11
Bearish Preference:
A sell position is envisaged if price trades below 74.26 with take profit at 74.05
Fundamentals:
No major Fundamentals
Comment:
Crude oil is steady at the start of trade on Friday after retreating overnight with the US Dollar finding firmer footing with the market taking some positives from US data. Jobless claims were above estimates at 264k for last week rather than the 245k anticipated, but PPI came in at 2.3%, instead of the 2.5% expected and 2.7% previously.
source: dailyfx.com