Crude oil-
WTI crude oil showed a minor sell-off after weak inventory data. It hit a low of $80.15 yesterday and is currently trading at $81.33.
Crude oil inventories rose by 3.6 million barrels last week, below the forecast of -2.6 million. The supply disruptions in the Middle East are due to escalating tension in Gaza.
Markets eye US Personal Consumption Expenditure (PCE) for further movement.
Major factors for crude oil price movement-
US dollar index (Bullish)- Negative for Crude.
Major resistance - 106/107.
Major support- 104/103.
Geopolitical tension- Escalation of tension between Israel and Gaza ( positive for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $80.88
Kijun-Sen- $81.01
The immediate resistance is around $82. Any jump above the target of $83/$83.50. On the lower side, near-term support is around $80.40. Any breach below will drag the commodity down to $80/$79/ $78.25/$77.60/$76.87/$76/$75.
It is good to buy on dips around $80.70-75 with SL around $79.35 for a TP of $83.


FxWirePro- Major US Indices
FxWirePro- Woodies Pivot(Major)
AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106
NZDJPY Bulls Charge Ahead: Buying the Dips Above 90 for a Shot at 92
FxWirePro: GBP/AUD loses momentum but bullish setup remains
FxWirePro: GBP/USD advances on steady UK GDP growth
FxWirePro: GBP/USD dips lower on negative UK retail sales data
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: EUR/NZD runs out of steam but maintains bullish outlook
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro:EUR/AUD eases but bullish outlook persists
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention 



