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Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 96.38 with take profit at 96.79.
Bearish Preference:
A Sell position is envisaged if price trades below price 94.95 with take profit at 94.50.
Fundamentals:
None with high impact
Comment:
Oil prices slipped on Friday after two days of gains, as market participants weighed worries about a global economic slowdown, which would dampen fuel demand, against expectations of tighter supplies toward year-end. The rise in U.S. fuel production could partly offset lower oil products exports from China this year as Beijing prioritizes the local market to curb domestic fuel inflation.
Analysis: SCRUM Team
