WTI crude oil showed a minor sell-off in the US session. It hit a low of $84.52 yesterday and is currently trading at $86.02.
According to EIA, US crude stocks rose by 5.8 million barrels for the week ended Apr 5th, compared to an increase of 2.4M bbls. Markets eye ceasefire talks between Israel and Gaza.
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- cease-fire talks progress between Israel and Hamas. (Negative for crude)
Ichimoku analysis (4- hour chart)
Tenken-Sen- $85.56
Kijun-Sen- $86.06
The immediate resistance is around $87.20. Any jump above targets $88.25/$90. On the lower side, near-term support is around $84.90. Any breach below will drag the commodity down to $84/$83.20.
It is good to buy on dips around $85 with SL around $84 for a TP of $87.20.


Aussie Yen Breaks 114 Barrier: Bulls Lock Horns With Resistance, Eyes on 115 Summit
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: USD/ZAR slips as SARB delivers surprise rate hike
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates
FxWirePro- Major Pair levels and bias summary
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD extends decline , vulnerable to more downside
FxWirePro: NZD/USD gains as hawkish RBNZ comments boost Kiwi dollar
FxWirePro: GBP/NZD slide extends ,eyes 2.2600 level
Pound-Yen Roars Back Above 214: Bulls Reload for 216–217 Charge on Dip-Buying Setup
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro: GBP/USD recovers some ground but bears are not done yet
FxWirePro- Major Pair levels and bias summary 



