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Daily Market Analysis 18.09.2023: OIL

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Instrument: OILs

Bullish Preference: 
A buy position is envisaged if the price trades above 94.82 with take profit at 95.19.
Bearish Preference: 
A sell position is envisaged if the price trades below 94.37 with take profit at 94.19.
Fundamentals:
None with High Impact

Comment: 
Oil prices rose for a third straight session on Monday, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and by optimism about a recovery in demand in China.

Analysis: SCRUM Team

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