Crude oil trades below $70 on demand concerns. It hit a low of $67.13 and is currently trading around $68.42.
Oil declined sharply after dismal US jobs data on Friday. The weak US and Chinese economy pulled the oil prices lower.
Tropical storm Francine got strengthened in the Gulf of Mexico forcing drillers to halt oil production.
US dollar index - Neutral
US treasury yield- bearish (positive for commodity market).
Major resistance- $69.10. Any breach above will take the commodity to the next level $70/$71.70/$72.80/$73.20. Major trend reversal only above $84.50.
The near-term support is around $68, and any violation below targets $67.75/$67.
Indicators (4- hour chart)
ADX- Bearish
CCI (50) - Bearish
CCI (14)- Bearish
It is good to buy on dips around $67.50-55 with SL around $66.75 for TP of $71.


Aussie Yen Breaks 114 Barrier: Bulls Lock Horns With Resistance, Eyes on 115 Summit
Pound-Yen Roars Back Above 214: Bulls Reload for 216–217 Charge on Dip-Buying Setup
FxWirePro: NZD/USD gains as hawkish RBNZ comments boost Kiwi dollar
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
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro: EUR/ NZD dips below lower range, bearish bias increases
FxWirePro: GBP/NZD extends decline , vulnerable to more downside
FxWirePro: GBP/USD recovers some ground but bears are not done yet
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Pair levels and bias summary
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
Bitcoin Bleeds $704M in ETF Outflows as Institutional Exodus Accelerates 



