- US oil declined sharply yesterday till $56.74 and shown a minor increase from that level after OPEC meeting. OPEC agrees to extend its production cut to end of 2018.. The commodity recovered from intraday low of $57.25.
- The oil prices jumped almost 40% after OPEC and Russia planned to cut production by 1.8 million barrels per day.
- The commodity has taken support near 20 –day MA ($56.79) and trend line ($56.71) at $56.74 and shown a minor jump from that level. Minor resistance is at $58.20 (61.8% fibo) and any break above will take the oil to next level till $59.05. Overall bullish continuation only above $59.05.
- On the lower side, any break below $57.40 (10- day MA) will drag the commodity down till $56.70-75 (20- day MA and trend line support)/$56/$54.89 (Nov 14th 2017 low).
It is good to buy on dips around $57.40-45 with SL around $56.70 for the TP of $59.05/$60.


Currency Score Alert: GBPUSD, AUDUSD & NZDUSD Top the Charts at 85 – Major Levels to Watch for Bullish Breakouts
FxWirePro: USD/CAD eases slightly but trend is still bullish
FxWirePro: GBP/USD supported by UK services recovery and dollar weakness
FxWirePro: EUR/AUD gains slightly, but downward resumption looks likely
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/ZAR gains some ground, but downtrend remains
FxWirePro- Major Pair levels and bias summary
AUDJPY Bears Hold the Line: Sell Rallies at 111.40 as Negative Bias Targets Sharp Drop to 108
FxWirePro : EUR/NZD holding below 38.2% fibo ahead of US data
Crypto Action Bias: BNB/USD Leads Bullish Momentum as Major Pairs Neutralize
FxWirePro: AUD/USD eases slightly as markets await U.S. Payrolls report
FxWirePro: USD/ZAR extends decline, scope for further downside
FxWirePro: EUR/ AUD neutral in the near term, scope further downside
EURUSD Bulls Charge Higher: Buy Dips at 1.1528 as EMA Alignment Eyes Break Above 1.1560
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies pivot (Major) 



