Crude oil prices held gains on Monday in mildly volatile trade as fitful moves among producers to find a way to cut output continue.
On the New York Mercantile Exchange, crude oil for delivery in Marchrose 0.57% to $31.06 a barrel. Brent crude gained 0.53% to $34.24 a barrel.
Most Likely Scenario:- Long Above @31.16 with target 33.76 for further retracement.
Alternative:- Short below @31.16 with target 30.10 for further extension.
Trend bias:- Bullish
Candlestick Pattern:- Bullish Engulfing which gives uptrend indication.
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