Energies
Oil prices showed strength in May and continue to rise in June, reaching two-month highs this week. West Texas Intermediate is trading above $64 today and heading for $65.00 psychological resistance level.
Price is finding support at the moving average MA(30) on the 4H chart, confirming the uptrend in the mid-term. Moving averages Ma(5) and MA(10) are slopping upward and supporting price.
Daily closing above $64.70 resistance level could open the door for more upward movement till $66.00 resistance level.
West Texas Intermediate (USOUSD) 4H Chart
| Resistance | $65.10 | $65.82 | $66.90 |
| Support | $64.00 | $63.52 | $62.65 |
The US dollar is trading in a range against major currencies, but showing some strength recently. USDJPY broke 145.00 level today before it fell sharply indicating clear selling pressure at the psychological level.
With short term moving averages MA(5) and MA(10) showing no clear direction, the focus shifts to historical support and resistance levels.
A daily closure below the 144.00 level is bearish for the pair. The next support to reach in that case would be 143.50
USDJPY 1H Chart
| Resistance | 144.96 | 145.28 | 145.56 |
| Support | 144.34 | 143.97 | 143.80 |
US indices maintain their uptrend in the mid-term. Hourly candlesticks show clear rejections at key support levels, indicating buying pressure from these prices. A bearish correction toward 42,550 doesn’t negate the uptrend. Failing to close below this level on the daily chart is considered bullish for the index.
Breaking 42,900 upward can push prices higher toward 43,132 resistance. The overall sentiment on major indices, including the Dow Jones, is still positive.
Dow Jones 1H Chart
| Resistance | 42,927 | 43,028 | 43,169 |
| Support | 42,664 | 42,560 | 42,527 |
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