WTI crude oil pared most of its gains on easing geo-political tension. It hit a high of $82.98 at the time of writing and is currently trading at $81.95.
The United States of America has imposed new sanctions on Iran after an attack on Israel. US President Biden said “And our allies and partners have or will issue additional sanctions and measures to restrict Iran’s destabilizing military programs.”
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 $83. Any jump above target $83.60/$84/$85. On the lower side, near-term support is around $80. Any breach below will drag the commodity down to $78/$76.
It is good to buy on dips around $80 with SL around $78 for a TP of $85.


FxWirePro: USD/CNY edges higher but bulls lack punch
FxWirePro: GBP/AUD under pressure as pound continues to weaken
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD edges lower but bullish outlook persists
Crypto Bias Report: Trend Signals and Top Bullish Picks 



