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Instrument: OIL WTI
Bullish Preference:
A buy position is envisaged if the price trades above 84.25 with a take profit at 84.59.
Bearish Preference:
A sell position is envisaged if the price trades below 83.69 with a take profit at 83.33.
Fundamentals:
1:30pm
USD CPI m/m
USD CPI y/y
USD Core CPI m/m
USD Unemployment Claims
Comment:
Oil prices stabilized on Thursday as investor caution dominated ahead of inflation data expected to offer clues on U.S. interest rates. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for tensions between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments.
Analysis: SCRUM Team
