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Instrument: OIL
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 55.31 with take profit at 54.47.
Bearish Preference:
Buy is envisaged if price trades above 56.08 with take profit at 57.08.
Fundamentals:
No Fundamentals
Comment: Oil prices have been affected by the renewed COVID-19 lock-down concerns has raised fresh issues about global fuel demands. Signs of weaker demands did weigh on the market as lock-downs in Hong Kong, China and possibly France, would restrict business activities and fuel consumption.
Analysis: SCRUM Team
