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.


Bitcoin’s Islamabad Watch: BTCUSD Consolidates Near 71,421 USD as Geopolitical Peace Talks Loom
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
Euro Ascendant: EUR/USD Breaks $1.17 as Geopolitical Relief Sparks a Bullish Surge
Geopolitical Shocks That Could Reshape Financial Markets in 2025
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
Stock Futures Dip as Investors Await Key Payrolls Data
FxWirePro: GBP/USD climbs to 4 -week high as ceasefire deal gives bulls traction
FxWirePro:NZD/USD jumps as RBNZ warns of higher OCR potential
FxWirePro: USD/ZAR slips sharply lower as US-Iran ceasefire lifts risk appetite
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
China’s Growth Faces Structural Challenges Amid Doubts Over Data
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close
China's Refining Industry Faces Major Shakeup Amid Challenges
Ethereum Reclaims Higher Ground: Ether Bulls Target $2,700 as Middle East Tensions Thaw
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 



