WTIUSD

WTI crude oil prices are trying to recover amid supply concerns following Russia's airstrikes on Ukraine. However, efforts by the West to persuade Ukraine to reach an agreement with Russia and weak expectations regarding global demand, particularly from China, are causing oil prices to remain weak. While significant developments are awaited in global markets, the performance of European and US stock exchanges will continue to be closely monitored throughout the day. Last week, Fed Chairman Powell's announcement that interest rates may remain high for a longer period exerted pressure on the markets.

From a technical perspective, when examining the WTIUSD chart on an hourly time frame, the resistance levels of 67.5-68.0 are seen as important. As long as the pair stays below these levels, the downward trend may continue. The RSI indicator is at level 42, indicating a negative outlook. In the event of possible declines in prices, the support levels of 66.5 and 66.0 can be monitored. Despite showing a 0.16% increase compared to the previous day, further rises require closures above the 68.0 level, in which case the 68.5 resistance could come into focus.