WTI probes intraday high while extending pullback from $38.87. Blast in Tehran, US-Iran tension join upbeat comments from global policymakers. Coronavirus fears remain on the desk but hopes of vaccine counter pessimism. Baker Hughes US Rig Counts, qualitative catalysts in the spotlight. WTI takes the bids around $39.30, up 0.65% on a day, during the pre-European session on Friday. The energy benchmark recently benefited from the headlines concerning Iran while also cheering the consolidation in the market sentiment. Though, fears of the coronavirus (COVID-19) and a light calendar keep the black gold’s upside restricted. Be it the US-Iran tussle over the sanctions or the blast in the eastern Tehran, news from Iran offered early-day strength to the oil prices. The up-moves got additional strength after the risk-tone sentiment recovered following US President Donald Trump’s tweet defying calls of another shutdown and highlighting the vaccine launch in the year. Also favoring the risks were signals from the BOJ and New Zealand diplomats as well as Aussie PM’s stance on the surge in Victoria’s pandemic cases. While portraying the mild risk-on mood, stocks in Asia and the US stock futures stay in green whereas the US 10-year Treasury yields seesaw around 0.68% as we write. It should also be noted that the US dollar’s recent pullback also favors commodity prices. The US dollar index (DXY), a gauge of the greenback versus major currencies, stretches the U-turn from the four-day high to 97.35 by the press time. Moving on, there are no major data in the European/UK session, which in turn might result in a dull day ahead of the US Open. During the American trading period, the Michigan Consumer Sentiment Index and Personal Income – Expenditure details might entertain the traders. Additionally, weekly reading of the Baker Hughes US Rig Counts, previous 189, also becomes the key considering the latest falls to record lows. Technical analysis Repeated pullbacks from 21-day EMA, currently around $37.35, favor the bulls targeting $40.00 and June 08 top surrounding $40.60. Meanwhile, 61.8% Fibonacci retracement of February-April downside, around $37.00, offers an extra challenge to the sellers below the 21-day EMA. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Tokyo Governor Koike: This is not a second coronavirus wave FX Street 2 years WTI probes intraday high while extending pullback from $38.87. Blast in Tehran, US-Iran tension join upbeat comments from global policymakers. Coronavirus fears remain on the desk but hopes of vaccine counter pessimism. Baker Hughes US Rig Counts, qualitative catalysts in the spotlight. WTI takes the bids around $39.30, up 0.65% on a day, during the pre-European session on Friday. The energy benchmark recently benefited from the headlines concerning Iran while also cheering the consolidation in the market sentiment. Though, fears of the coronavirus (COVID-19) and a light calendar keep the black gold’s upside restricted. Be it the US-Iran tussle over… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.