Crude Oil WTI (USOIL) holding ground
Crude Oil WTI rallied as geo-political tensions heightened. A surge above the psychological level of 70.00 continues to fuel the bullish impetus, putting the price on its way to breaking 73.50. The daily RSI’s rise into the overbought area suggests a slowdown in the momentum, and a pullback cannot be ruled out. The previous swing low of 69.50 would be the first level to test the bulls’ resolve, with 68.00 being the second line of defence.
AUDUSD hits resistance
The Aussie drifted lower after correction from the late September rally. The latest upside move came to a halt at 0.6940 as sentiment shifted downwards. A combination of profit-taking and fresh selling could weigh on the price action. 0.6800 is the immediate support to keep the current momentum intact, and further down the recent bottom at 0.6730, it is a critical floor to prevent a bearish continuation.
UK 100 consolidates gains
The FTSE held on after a continuous choppy consolidation. A jump above 8300 suggests that sellers were forced to cover their positions, intensifying the volatility. A bullish breakout could put the index back on its upward trajectory, with 8420 as a potential target. In the near term, the bulls could look to consolidate their gains and secure a foothold. However, 8250 is the closest support in case of a pullback.