Friday's calendar is relatively light but includes several reports that could influence commodity and energy markets. The day begins with the release of the IEA Monthly Oil Market Report, which provides updated forecasts on global oil demand, supply, inventories, and market conditions. Energy traders will also monitor the WASDE Report, offering key insights into global agricultural supply and demand that can impact commodity prices.

Later in the session, attention turns to the U.S. Baker Hughes Oil Rig Count and Total Rig Count, closely watched indicators of drilling activity and future crude oil production in the United States. While these events are less likely to drive broad market volatility than major economic data, they can trigger notable price movements in the energy sector, particularly in crude oil and related assets.

Price is now compressing near the 0.1056 support area, while the descending trendline continues to pressure the structure from above. A clean breakdown below this support could confirm bearish continuation and expose lower levels inside the broader descending structure.

However, reclaiming 0.1237 would weaken the immediate bearish pressure, while 0.1556 remains the key level bulls need to break before any meaningful trend reversal can be considered.

Key Levels

🟢 Support: 0.1056 → 0.0850
🔴 Resistance: 0.1132 → 0.1237 → 0.1556
📉 Bias: Bearish while price remains below the descending resistance.
⚠️ A confirmed loss of 0.1056 could trigger the next downside expansion.