WTI crude oil lost its shine and declined more than $2 from a multi-month high despite the weak US dollar. It hit a low of $80.94 at the time of writing and is currently trading at $80.93.
According to API, US crude oil inventories declined by about 1.519 million barrels for the week ended Mar 16th, compared to a build of 77000.
Major factors for crude oil price movement-
US dollar index (Bearish)- positive for Crude. Major resistance - 104.20/105. Major support- 103/102.40.
Geopolitical tension- Escalation of Russia and Ukraine war (Positive for crude)
Ichimoku analysis (4- hour chart)
Tenken-Sen- $81.85
Kijun-Sen- $81.77
The immediate resistance is around $82. Any jump above targets $82.54/83.10. On the lower side, near-term support is around $80.80. Any breach below will drag the commodity down to $80.45/$80/$79.
It is good to buy on dips around $79.50 with SL around $77.90 for a TP of $83.50.


Bitcoin’s Islamabad Watch: BTCUSD Consolidates Near 71,421 USD as Geopolitical Peace Talks Loom
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD extends decline on broad dollar weakness
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD under pressure as key support gives way
FxWirePro: USD/JPY steadies around 158.75, bias bullish
Euro Holds the Line: EURUSD Finds Support at the 365-EMA as Peace Talks Loom
FxWirePro: GBP/NZD down trend loses steam, remains on bearish path
FxWirePro -Major European Indices
FxWirePro: EUR/CAD gains ground on prospects of resumed energy flows
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD positions for another drop, eyes 1.8900level
FxWirePro: AUD/USD edged lower as early optimism over U.S.–Iran peace talks fade
NZDJPY Bulls Charge Toward 95.00: Safe-Haven Exodus Drives Kiwi Rally
FxWirePro: EUR/AUD claws back some losses but rcovery likely muted
FxWirePro: EUR/NZD remains under pressure as key support gives way 



