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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 83.83 with take profit at 84.02
Bearish Preference:
Sell position is envisaged if price trades below 83.43 with take profit at 83.24
Fundamentals:
No Major Fundamental
Comment: Crude oil continued higher today as the reality of OPEC+ not adding to production output seems to be sinking in. The market also questioned if the US Strategic Petroleum Reserve would be tapped or not. The WTI oil contract traded as high as US$ 82.47 in the Asian session.
Analysis: SCRUM Team
