WTI crude oil pared its gains after a minor pullback above $80. It hit a low of $78.42 at the time of writing and is currently trading at $78.55.
Hawkish comments from Fed members such as Bostic, Barr, Waller, and Jefferson yesterday put pressure on crude at higher levels.
Markets eye political developments in Iran after the death of President Ebrahim Raisi.
Major factors for crude oil price movement-
US dollar index (Bearish)- positive for Crude.
Major resistance - 105/106.50.
Major support- 104/103.
Geopolitical tension- ceasefire talks stalled. (positive for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $79.25
Kijun-Sen- $78.36
The immediate resistance is around $80. Any jump above the target of $80.55/$81.20/$82/$82.53/$83. On the lower side, near-term support is around $77.90. Any breach below will drag the commodity down to $76.70/$75/$74.
It is good to sell on rallies around $80 with SL around $82 for a TP of $75.


NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
Crypto Bias Report: Trend Signals and Top Bullish Picks
FxWirePro: GBP/AUD under pressure as pound continues to weaken
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118
FxWirePro: USD/CNY edges higher but bulls lack punch
FxWirePro:USD/JPY hovers near a four-decade low
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ZAR retreats slightly but bias is bullish
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: GBP/AUD bears maintain upper hand 



