US Oil chart on Trading View used for analysis
- US Oil extends sideways grind, remains capped below 21-EMA.
- Recovery attempts lack traction, upside capped at 5-DMA.
- Sentiment continues to be dented by the looming supply glut worries and economic growth concerns.
- Markets skeptical whether the planned supply cuts by the OPEC and other producers such as Russia will be able to stabilize the oil markets.
- Technical studies are biased lower. Price action below cloud and major moving averages.
- Markets look forward to the US weekly crude stocks data for fresh direction.
- Immediate support lies at 49.72 (Lower BB), while immediate resistance lies at 21-EMA at 53.30.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


Wall Street Analysts Weigh in on Latest NFP Data
FxWirePro- Major Pair levels and bias summary
AUDJPY Bears Take a Breather at 111.50, But ‘Sell on Rallies’ Still Eyes 110
2025 Market Outlook: Key January Events to Watch
FxWirePro: GBP/USD heads deeper into bear territory, 23.6% fibonacci eyed
FxWirePro: USD/JPY edges higher as the yen remains vulnerable despite repeated warnings of intervention.
AUDJPY Breaks Key Trendline Support — Bears Eye 110 as Momentum Accelerates
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
FxWirePro: USD/CAD hits 14-month high , Scope for further upside
FxWirePro: GBP/NZD gaining momentum for a move towards 2.3350level
EURJPY Bounce Loses Steam Below 184 — Sell-the-Rally Setup Eyes 183 Target
Geopolitical Shocks That Could Reshape Financial Markets in 2025
FxWirePro: EUR/AUD bullish outlook with scope to target 1.6500
China's Refining Industry Faces Major Shakeup Amid Challenges 



