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Daily Market Analysis 31.07.2023: OIL

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Instrument: OILs

Bullish Preference: 
A buy position is envisaged if the price trades above 84.71 with take profit at 84.97.
Bearish Preference: 
A sell position is envisaged if the price trades below 84.11 with take profit at 83.94.
Fundamentals:
No High Impact Data

Comment: 
Oil prices hovered near three-month highs on Monday, set to post their biggest monthly gains in over a year on expectations that Saudi Arabia would extend voluntary output cuts into September and tighten global supply.

Analysis: SCRUM Team

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