Crude oil gained more than $4 on the escalation of Middle East conflict. It hit a high of $74.51 at the time of writing and is currently trading around $74.46.
Geopolitical tension-
Iran deployed a ballistic missile on Israel on Wednesday. Israel would respond to Iran attack by striking Iran’s Oil rigs or by attacking Nuclear sites.
US dollar index - Bearish
US treasury yield- bearish (positive for commodity market).
Major resistance- $75. Any breach above will take the commodity to the next level $76/$77.05/$78. Major trend reversal only above $80.
The near-term support is around $73.80, any violation below targets $72.95/$72.45/$71.80.
Indicators (4- hour chart)
ADX- Bullish
CCI (50) - Bullish
It is good to buy on dips around $73.50 with SL around $72.45 for TP of $77.


FxWirePro- Woodies Pivot (Major)
FxWirePro: GBP/AUD falls after BoE rate hold
FxWirePro: USD/ZAR slips as rand benefits from steady commodity prices
NZDJPY Surges Past 90 Amidst BOJ Rate Hike Uncertainty
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/USD gains some traction after UK retail sales beat expectation
JPY Major Currency Score
FxWirePro: EUR/AUD downtrend loses momentum, bearish bias prevails
FxWirePro: GBP/NZD bulls gear up for next leg higher, eyes 2.3500level
EUR/USD Dips Below 1.1500 Amidst Divergent Central Bank Policies and USD Strength
FxWirePro: AUD/USD firms after RBA governor Bullock comments
FxWirePro: GBP/AUD edges higher but maintains bearish bias
FxWirePro: USD/CAD neutral in the near term, scope for further upside
EURJPY Recovers Over 150 Pips Post-BOJ Hike, Bullish Trend Strengthens
FxWirePro: EUR/AUD downside pressure builds, key support level in focus
FxWirePro: NZD/USD edges lower, remains on back foot 



