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.


NZDJPY Bulls in Control: Buy-the-Dip Setup Points to 96 Target
Bank of America Posts Strong Q4 2024 Results, Shares Rise
Energy Sector Outlook 2025: AI's Role and Market Dynamics
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
European Stocks Rally on Chinese Growth and Mining Merger Speculation
AUDJPY Smashes 30-Month Peak — Buy the Dip, 112 in Sight
2025 Market Outlook: Key January Events to Watch
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes
China's Refining Industry Faces Major Shakeup Amid Challenges
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
Urban studies: Doing research when every city is different
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift?
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
EUR/JPY Powers Higher for 2nd Day — Bulls Charge Toward 187+ Breakout 



