Instrument: OILs+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 82.87 with take profit at 83.01
Bearish Preference:
A sell position is envisaged if the price trades below price 82.45 with take profit at 82.36
Fundamentals:
No major Fundamentals
Comment:
Oil prices held steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth. Oil futures had risen more than 1% on Monday on optimism that holiday travel in China would increase fuel demand in the world’s second-biggest economy.
Analysis: SCRUM Team