Instrument: OILs
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 86.37 with take profit at 86.81
Bearish Preference:
A Sell position is envisaged if the price trades below 85.37 with take profit at 84.76
Fundamentals:
None with High Impact
Comment:
Oil prices were little changed on Tuesday after five sessions of gains, with weak oil data from top crude importer China balanced by concern over supply. The market will also look for direction from U.S. Federal Reserve Chair Jerome Powell’s testimony before the Senate Banking Committee at 1500 GMT on Tuesday. The focus will be on whether he remains confident that the Fed is on the right path to keep inflation on a steady decline towards its 2% target.
Analysis: SCRUM Team
