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.


Euro Holds the Line: EURUSD Finds Support at the 365-EMA as Peace Talks Loom
Pound Sterling Power: GBP/JPY Secures Third Day of Gains as Global Risk Tensions Recede
FxWirePro: USD/ JPY slips as yen rallies after Mideast ceasefire declaration
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
Aussie Consolidates After Peak: AUDJPY Bulls Eye a Strategic Entry for the 115.00 Target
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
Aussie Bulls Charge: AUD/JPY Rallies as Geopolitical Clouds Part
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
2025 Market Outlook: Key January Events to Watch
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty
FxWirePro:NZD/USD jumps as RBNZ warns of higher OCR potential
Global Markets React to Strong U.S. Jobs Data and Rising Yields
Energy Sector Outlook 2025: AI's Role and Market Dynamics
NZD/JPY Rockets as Kiwi Dollar Resilience Defies the Oil Shock
Urban studies: Doing research when every city is different
FxWirePro: USD/ZAR slips sharply lower as US-Iran ceasefire lifts risk appetite
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 



