- US oil surged sharply in the previous on geo political tensions in the Middle East. The commodity jumped till $52.34 yesterday due to clashes in Kurdistan. Reports of clashes between Iraqi troops and Kurdish is main reason for rise in crude oil price.
- But upside capped due to increase in US production in Nov according to EIA report. The EIA has forecast increase of 81000 bbl per day in Nov compared to Oct.
- On the higher side, near term major resistance is around $52.52 (161.8% fibo) and any break above will take the oil to next level till $52.83/$53.75 (Apr 12th 2017 high).
- The near term support is around $51.40 (resistance turned into support) and any break below will drag the commodity down till $50.95 (55- 4H EMA)/ $49.87 (200- 4H MA).
It is good to sell on rallies around $51.85-$51.90 with SL around $52.40 for the TP of $50.95/$49.90.


AUDJPY Bears Hold the Line: Sell Rallies at 111.40 as Negative Bias Targets Sharp Drop to 108
FxWirePro: GBP/AUD edges lower, bearish outlook persists
FxWirePro: GBP/AUD eases slightly, focus on near-term support
FxWirePro: GBP/USD eases as dollar firms ahead of U.S. June non-farm payrolls report
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD eases slightly as markets await U.S. Payrolls report
FxWirePro : EUR/NZD gains upside momentum but still bearish
FxWirePro: EUR/AUD gains slightly, but downward resumption looks likely
FxWirePro: USD/CNY edges lower, scope for further downside
FxWirePro: NZD/USD retreats as Middle East instability weighs
FxWirePro: USD/ZAR gains some ground, but downtrend remains
Currency Score Alert: GBPUSD, AUDUSD & NZDUSD Top the Charts at 85 – Major Levels to Watch for Bullish Breakouts
FxWirePro : EUR/NZD holding below 38.2% fibo ahead of US data
NZDJPY Bears Ready to Strike: Sell Rallies at 93 as EMAs Signal Deeper Slide to 90
AUDJPY Bears Poised: Sell Rallies at 111.55 for 108 Target with 112.20 Stop
FxWirePro: AUD/USD eases as investors await U.S. employment figures
FxWirePro: USD/JPY edges higher as traders eye U.S. Jobs data and Geopolitical developments 



