Instrument: OIL
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 74.36 with take profit at 74.67.
Bearish Preference:
A sell position is envisaged if the price trades below 73.72 with take profit at 73.54
Fundamentals:
None with High Impact
Comment:
Oil prices fell slightly in Asian trade on Thursday as major importer China enacted more interest rate cuts amid worsening economic conditions, while markets continued to digest mixed signals from the Federal Reserve.
Analysis: SCRUM Team