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.


FxWirePro:NZD/USD edges higher as kiwi firms on hawkish RBNZ outlook
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CNY attracts selling interest, vulnerable to more downside
FxWirePro- Major Crypto levels and bias summary
GBPJPY Weakens on Soft UK CPI: Sell Below 217.80 Targeting 216.40
FxWirePro- Woodies pivot (Major)
JPY Strength Alert: USDJPY, AUDJPY, EURJPY and CADJPY Turn Extremely Bullish
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/CAD retreats slightly but trend is still bullish
FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
NZDJPY Pulls Back on Kiwi Weakness: Buy Dips at 94.40 Targeting 97
FxWirePro:USD/JPY holds above 163 as intervention fears keep traders on edge
FxWirePro: AUD/USD rallies on jobs surge, heads to test key resistance 



