Instrument: OIL. WTI.
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 70.29 with take profit at 70.66.
Bearish Preference:
A sell position is envisaged if the price trades below 69.58 with take profit at 69.24.
Fundamentals:
7:00pm
USD FOMC Economic Projections
USD FOMC Statement
USD Federal Funds Rate
7:30pm
USD FOMC Press Conference
Comment:
Global oil demand growth will taper off over the next few years as high prices and Russia’s invasion of Ukraine speed up the transition away from fossil fuels, the International Energy Agency said.
Analysis: SCRUM Team