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Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 34.90 with take profit at 35.30
Alternative scenario:
Sell position is envisaged if price trades below 32.89 with take profit at 32.20
Fundamentals:
Baker Hughes Rig Count (US) 6pm
Comment: The instrument has been over bought this week eventually setting a new high and the resistance at 36.90 proving very strong and has sent the instrument back down but with a new support at 34.16, hence the bullish stance at the specified price levels.
Analysis: SCRUM Team
