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Instrument: OILs
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 88.19 with take profit at 89.28
Bearish Preference:
Sell position is envisaged if price trades below 86.59 with take profit at 85.74
Fundamentals:
No high impact fundamental
Comment:
Oil prices rose on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a G7 price cap which kicked in on Russian crude. At the same time, in a positive sign for fuel demand in the world’s top oil importer, more Chinese cities eased COVID-19 curbs over the weekend.
Analysis: SCRUM Team
