WTIUSD

WTI crude oil prices are trading in a narrow range due to reduced trading volumes because of the Thanksgiving holiday in the US and limited new developments. The market remains in cautious anticipation following the Israel-Hezbollah ceasefire, and the postponement of the OPEC+ meeting increases uncertainty. The trends in European and US stock markets should be closely monitored, especially in terms of oil trading. Additionally, positive developments regarding consumption growth in China create partial optimism in Asian markets, while inflation expectations in the Eurozone continue to be watched.

From a technical standpoint, when the WTIUSD chart is examined on an hourly timeframe, prices are trading at around 68.945 levels. The 68.50 and 68.00 levels are monitored as nearby support levels. For upward movements, the 69.50, 70.00, and 70.50 resistance levels should be observed. The RSI indicator is at the 50 level and presents a neutral outlook. There is a 0.13% increase in prices compared to the previous day. If the price remains below the 69.00-69.50 resistance, downward pressure may increase; however, hourly closures above this resistance level could support upward movements.