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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 77.07 with take profit at 77.20.
Bearish Preference:
Sell position is envisaged if price trades below 76.32 with take profit at 76.17.
Fundamentals: No Major Fundamental
Comment: Oil was up Friday morning in Asia, rising for a fourth day with the focus on tighter supplies and a strong appetite for riskier assets like crude oil alongside high hopes for the economic recovery from COVID-19. U.S. crude oil supply data released on Wednesday showed that inventories fell to the lowest in almost three years, with the damage from hurricanes Ida and Nicholas keeping draws elevated.
Analysis: SCRUM Team
