Instrument: OIL
Bullish Preference:
A Buy position is envisaged if the price trades above 95.34 with take profit at 95.71
Bearish Preference:
A Sell position is envisaged if the price trades below 93.93 with take profit at 93.51.
Fundamentals:
1:30pm
USD Final GDP q/q
USD Unemployment Claims
9:00pm
USD Fed Chair Powell Speaks
Comment:
Oil futures jumped to their highest in more than a year on Thursday as a drop in crude stocks in the United States added to worries over tight global supplies from OPEC+ output cuts.
The oil market is quickly coming to terms with the fact that the OPEC+ cuts announced in the summer are having a deep effect on crude availability.
Analysis: SCRUM Team
