WTI crude oil pared some of its gains as global growth concerns. It hit a high of $84.25 yesterday and is currently trading at $82.82
According to API crude inventory data, crude oil inventories declined by 914000 barrels compared to a forecast of -150000 barrels. Department Of Energy (DOE) reported inventories in SPR rose by 0.40 million barrels as of June 28th, the highest level since Dec 2022.
Major factors for crude oil price movement-
US dollar index (Bullish)- Negative for Crude.
Major resistance - 106.20/107.
Major support- 105.50/104.
Geopolitical tension- Escalation of tension between Israel and Lebanon ( positive for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $83.52
Kijun-Sen- $82.42
The immediate resistance is around $83.60. Any jump above the target of $84/$85. On the lower side, near-term support is around $82.60. Any breach below will drag the commodity down to $$81.75/$80.97/80.
It is good to buy on dips around $82.50 with SL around $81.75 for a TP of $85


FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro: USD/CAD slips as Canadian dollar firms on hopes for US-Iran ceasefire deal
FxWirePro: USD/ZAR slips as SARB delivers surprise rate hike
FxWirePro: USD/JPY edges higher but bulls lack punch
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates
FxWirePro: NZD/USD gains as hawkish RBNZ comments boost Kiwi dollar
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD downward momentum remains in place
FxWirePro: USD/ZAR sell bias remains below key resistance zone
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro: USD/CAD bulls continue to hold the higher ground 



