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Instrument: OIL
Bullish Preference:
Buy position is envisaged if the price trades above 84.51 WithTake profit at 84.79
Bearish Preference:
Sell position is envisaged if the price trades below 83.87 with Take profit at 83.62
Fundamentals:
No major Fundamentals
Comment:
Oil prices crept up on Thursday after China’s central bank sought to stem the rising tide of pessimism over the country’s property market and wider economy. Prices had fallen for the previous session on simmering worries over the impact on fuel demand from a deepening property crisis that is stifling momentum in China’s economy and from the potential for further increases to U.S. interest rates
Analysis: SCRUM Team
