WTI crude oil pared some of its gains on easing tension between Israel and Hamas. It hit a low of $82.23 yesterday and is currently trading at $83.49.
Israel's new proposal includes a 40-day truce in the Gaza war and the release of hostages. Markets eye ceasefire talks between Israel and Hamas for further movement.
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- Progress in ceasefire talks between Israel and Gaza (Negative for crude).
Ichimoku analysis (4- hour chart)
Tenken-Sen- $83.65
Kijun-Sen- $82.64
The immediate resistance is around $83.65. Any jump above the target of $84/$85/$86.20/$87. On the lower side, near-term support is around $82.60. Any breach below will drag the commodity down to $81.95/$80.70/$80.
It is good to sell on rallies around $84 with SL around $85 for a TP of $80.


Crypto Bias Report: Trend Signals and Top Bullish Picks
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro: GBP/NZD gains some ground but outlook is bearish
EUR/USD Slides After ECB Hold, Bearish Technicals Favor Rally Fades
FxWirePro: USD/ZAR surges as rand slumps after SARB rate hold surprise
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro: USD/CNY edges higher but bulls lack punch
FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro- Woodies pivot (Major)
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish
FxWirePro: GBP/AUD under pressure as pound continues to weaken
FxWirePro- Woodies pivot (Major)
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path 



