WTIUSD
WTI oil prices are showing an upward trend in the Asian session ahead of US inflation and Energy Information Administration's inventory data. OPEC's monthly report and China's positive statements regarding economic policies have also stabilized the oil markets. The American Petroleum Institute's report on an increase in inventories stands out as a significant development on the supply side. US inflation data and Fed's interest rate policy expectations are prominent as major determinants in global markets.
Technically, WTI prices continue to trade above the 68.50 support level. If the rise continues, the levels of 69.50 and 70.00 can be monitored as resistance. In potential pullbacks, the 68.50 level emerges as a critical support; a sustained movement below this level could bring the 68.00 and 67.50 support levels into focus. The RSI indicator is showing a neutral outlook at the 50 level. Prices increased by 1.04% compared to the previous day, which may indicate that the upward potential is maintained in the short term.
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