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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 103.89 with take profit at 104.27
Bearish Preference:
Sell position is envisaged if price trades below 102.27 with take profit at 101.89
Fundamentals:
No major Fundamental.
Comment:
Demand concerns in China, the world’s largest crude oil importer, added downward pressure on Tuesday. China’s capital Beijing has expanded its COVID-19 mass testing to much of the city of nearly 22 million, as the population braced for an imminent lockdown similar to Shanghai’s stringent curbs.
Analysis: SCRUM Team
