WTI crude oil showed a minor sell-off due to easing Middle East tension. It hit a high of $84.66 yesterday and is currently trading at $85.93.
Israel withdrew troops out of southern Gaza and markets eye ceasefire talks between Israel and Hamas for further movement.
Major factors for crude oil price movement-
US dollar index (Bullish)- negative for Crude. Major resistance - 105.20/106. Major support- 103.80/103.
Geopolitical tension- easing between Israel and Hamas. (Negative for crude)
Ichimoku analysis (4- hour chart)
Tenken-Sen- $85.49
Kijun-Sen- $83.82
The immediate resistance is around $87.20. Any jump above targets $88.25/$90. On the lower side, near-term support is around $85.75. Any breach below will drag the commodity down to $85/$84.70.
It is good to buy on dips around $85.6-62 with SL around $84.65 for a TP of $88.


FxWirePro: USD/CAD edges lower but bullish outlook persists
FxWirePro: USD/CNY attracts selling interest, vulnerable to more downside
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
GBPJPY Weakens on Soft UK CPI: Sell Below 217.80 Targeting 216.40
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CAD retreats slightly but trend is still bullish
FxWirePro- Major Crypto levels and bias summary
Major Crypto Action Bias: ETHUSD Turns Bullish – Only Bullish Pair to Watch
FxWirePro: GBP/USD stays below 1.3400 level following cooler inflation report
JPY Strength Alert: USDJPY, AUDJPY, EURJPY and CADJPY Turn Extremely Bullish
FxWirePro: AUD/USD rallies on jobs surge, heads to test key resistance
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
AUDJPY Extends Four-Day Rally as Yen Weakness Fuels Fresh Buying Opportunity 



