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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 92.15 with take profit at 93.18.
Bearish Preference:
Sell position is envisaged if price trades below 90.30 with take profit at 89.87
Fundamentals:
No major Fundamental.
Comment:
Fundamentals and geopolitics have pushed oil prices rallying by 20 percent so far this year to levels last seen in the autumn of 2014. The price at over $90 a barrel is up by more than 60 percent from this time last year, and many analysts say that $100 oil is now a matter of when, not if.
Analysis: SCRUM Team
