Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 86.18 with take profit at 86.42
Bearish Preference:
Sell position is envisaged if price trades below 85.07 with take profit at 84.83
Fundamentals:
No major fundamental
Comment:
The planned price cap of $65-$70 per barrel for Russia’s oil is not expected to immediately shrink Putin’s oil revenues, considering that this is more or less the price that buyers currently pay for Russian crude, multiple industry sources familiar with the transaction prices told
Analysis: SCRUM Team