WTI crude oil recovered more than $3 on weak US dollar. It hit a high of $83.67 at the time of writing and is currently trading at $82.94.
According to the American Petroleum Institute, US crude inventories declined by 3.2 million barrels for the week ended Apr 19, compared with an increase of 4.09 million barrels.
Major factors for crude oil price movement-
US dollar index (Bullish)- negative for Crude. Major resistance - 106.50/107.20. Major support- 105/103.80.
Geopolitical tension- Easing of tension between Israel and Iran (Negative for crude)
Ichimoku analysis (4- hour chart)
Tenken-Sen- $81.83
Kijun-Sen- $83.13
The immediate resistance is around $84. Any jump above target $85/$86.20/$87. On the lower side, near-term support is around $82.50. Any breach below will drag the commodity down to $81.95/$80.70/$80.
It is good to buy on dips around $80 with SL around $78 for a TP of $85.


EUR/JPY Surges on Yen Weakness: Bullish Momentum Eyes 186-187 Targets
FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: GBP/AUD moves lower on weak UK data
FxWirePro: USD/CNY downside pressure builds, key support level In focus
FxWirePro: USD/ZAR edges higher but bearish outlook persists
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro- Woodies Pivot(Major)
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook
FxWirePro- Major Crypto levels and bias summary
AUDJPY Bulls Stay in Control: Buy the Dips Above 103.80 Targeting 106
NZDJPY Bulls Charge Ahead: Buying the Dips Above 90 for a Shot at 92
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: USD/JPY retreats as Japan signals possible FX intervention
FxWirePro: AUD/USD edges higher ahead of RBA meeting minutes 



