WTI crude oil gained sharply on rate cut hopes.It hit a high of $75.85 yesterday and is currently trading at $75.29.
The rate cut by major central banks ECB and Bank Of Canada this week has increased the speculation of rate cut by the Fed.
Markets eye US Non Farm Payroll data for further movement.
Major factors for crude oil price movement-
US dollar index (Bearish)- Positive for Crude.
Major resistance - 105/106.50.
Major support- 104/103.
Geopolitical tension- No further developments in ceasefire talks between Israel and Gaza ( positive for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $74.87
Kijun-Sen- $74.88
The immediate resistance is around $76. Any jump above the target of $77.45/$80. On the lower side, near-term support is around $74.85. Any breach below will drag the commodity down to $73.75/ $73/$72/$70.
It is good to sell on rallies around $75.25-30 with SL around $77 for a TP of $70.


Major Pair Action Bias: USDCHF Turns Bullish as EURUSD Stays Bearish – Key Pairs to Watch
Crypto Bias Report: Trend Signals and Top Bullish Picks
FxWirePro: USD/CAD retreats slightly but trend is still bullish
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
FxWirePro: GBP/NZD gains some upside momentum but still bearish
NZDJPY Dips Create Fresh Buy Opportunity as Key Support Holds
FxWirePro- Major Crypto levels and bias summary
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
Major Pairs Bias: USDCHF Bullish While GBPUSD Turns Bearish
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
FxWirePro- Woodies pivot (Major)
FxWirePro- Major Pair levels and bias summary
AUDJPY Extends Four-Day Rally as Yen Weakness Fuels Fresh Buying Opportunity
Major Crypto Action Bias: ETHUSD Turns Bullish – Only Bullish Pair to Watch 



