WTI crude oil showed a minor pullback despite weak US economic growth. It hit a high of $84.17 at the time of writing and is currently trading at $83.79.
The US economy slowed to 1.6% at an annual rate well below the forecast of 2.5%. According to Goldman Sachs crude oil inventories increased now after delays due to Redsea disruptions.
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- $83
Kijun-Sen- $82.36
The immediate resistance is around $84.35. Any jump above the target of $85/$86.20/$87. On the lower side, near-term support is around $82.50. 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.


FxWirePro: EUR/NZD downside pressure builds, key support level in focus
FxWirePro: USD/ZAR retreats slightly but bias is bullish
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level
FxWirePro- Woodies pivot (Major)
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
Major Pairs Action Bias: USDCHF Emerges Extremely Bullish as EURUSD and GBPUSD Turn Deeply Bearish
FxWirePro: GBP/NZD gains some ground but outlook is bearish
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118
FxWirePro: GBP/USD downtrend loses steam but outlook still bearish
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: GBP/USD slips as middle east tensions and oil surge pressure pound 



