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Intraday: Bullish
Technical Analysis
Preference:
A Buy position is envisaged if price trades above 22.22 with take profit at 23.82.
Alternative scenario:
Sell position is envisaged if price trades below 19.74 with take profit at 18.01
Fundamentals:
No major economic data expected today
Comment: Yesterday Oil plummeted to historic level as we saw future prices for May and June contract trading at 10USD per barrel on the WTI futures market, but also what we saw is OPEC + and the US signal that it is unacceptable for Oil to trade at such historic lows, Mr. Trump signaled bailing out the Oil industry while OPEC+ signaling that the may begin the cuts this month rather than by May.
Analysis: SCRUM Team
