WTI crude oil lost its shine on easing geo-political tension. It hit a low of $81.29 at the time of writing and is currently trading at $81.31.
According to the Energy International Association, crude inventories rose by 2.735 billion this week, above expectations of 1.373 million.
Major factors for crude oil price movement-
US dollar index (Bullish)- negative for Crude. Major resistance - 106.50/107.20. Major support- 105/103.80.
Geopolitical tension- Escalation of tension between Israel and Iran (Positive for crude)
Ichimoku analysis (4- hour chart)
Tenken-Sen- $83.37
Kijun-Sen- $84.44
The immediate resistance is around $82. Any jump above targets $83./$84.20/$85. On the lower side, near-term support is around $80. Any breach below will drag the commodity down to $78//$75.
It is good to sell on rallies around $83.35-40 with SL around $85 for a TP of $78


FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bulls Charge Ahead: Buying the Dips Above 90 for a Shot at 92
FxWirePro- Major US Indices
FxWirePro- Major Pair levels and bias summary
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro- Woodies Pivot(Major)
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro- Major Crypto levels and bias summary
Yen Capitulation Sends GBPJPY to 17-Year Peak – 212.60 Next?
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention
FxWirePro- Major European Indices 



