WTI crude oil trades slightly weak ahead of US NFP data. It hit a low of $83.57 yesterday and is currently trading at $83.80.
Opec oil output increased for a second month as Nigeria and Iran hiked its supplies. The increase in demand is due to the summer in the US supporting oil at lower levels.
Major factors for crude oil price movement-
US dollar index (Bearish)- Positive for Crude.
Major resistance - 106.20/107.
Major support- 105.50/104.
Geopolitical tension- improvement in negotiations between Israel and Hamasa ( negative for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $83.60
Kijun-Sen- $83
The immediate resistance is around $84.35. Any jump above the target of $85/$86. On the lower side, near-term support is around $83. Any breach below will drag the commodity down to $82.50/$81.75/$80.97/80.
It is good to buy on dips around $83 with SL around $82 for a TP of $85


FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
Major Pairs Bias: USDCHF Bullish While GBPUSD Turns Bearish
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
Major Crypto Action Bias: ETHUSD Turns Bullish – Only Bullish Pair to Watch
NZDJPY Pulls Back on Kiwi Weakness: Buy Dips at 94.40 Targeting 97
FxWirePro: EUR/ AUD downtrend loses steam, remains on bearish path
GBPJPY Weakens on Soft UK CPI: Sell Below 217.80 Targeting 216.40
FxWirePro: EUR/ AUD dips below 1.6300 level, focus on near term support
FxWirePro:USD/JPY hovers near 40-year peak,intervention fears linger
AUDJPY Extends Four-Day Rally as Yen Weakness Fuels Fresh Buying Opportunity
NZDJPY Dips Create Fresh Buy Opportunity as Key Support Holds
Major Pair Action Bias: USDCHF Turns Bullish as EURUSD Stays Bearish – Key Pairs to Watch
AUDJPY Pulls Back on Profit Booking: Buy Dips Toward 117/118
FxWirePro- Major Crypto levels and bias summary
FxWirePro:USD/JPY holds above 163 as intervention fears keep traders on edge
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro- Woodies pivot (Major) 



