WTIUSD

The WTIUSD pair demonstrated an upward trend with the possibility of delaying the production increase plan in the OPEC+ meeting and U.S. sanctions on Iranian oil. The American Petroleum Institute’s announcement of a 1.2 million barrel increase in inventories draws attention as a factor that could pressure prices. Additionally, inventory data to be released by the U.S. Energy Information Administration could also impact pricing. Private sector employment and service sector data from the U.S. to be announced during the day may also guide pricing.

Technically, the WTIUSD pair is trading above the 69.00 – 69.50 support levels on the daily chart. In upward movements, the 70.50 and 71.00 resistance levels should be monitored. In downward movements, closings below the 69.00 level could bring the 68.50 and 68.00 levels into focus. The RSI indicator is at 52, showing a neutral outlook. Compared to the previous day, the pair has risen by 0.43%. In light of these technical details, it can be observed that if prices remain above the 69.00 support, the upward potential could be preserved.