WTIUSD

Oil prices are showing a declining trend even though the Fed cut interest rates, as expectations for fewer rate cuts in 2025 strengthen the dollar. Expectations of increased production outside OPEC are also putting pressure on prices. The U.S. Energy Information Administration's announcement of a 900,000 barrel decrease in inventories failed to make a significant impact on the market. The trajectory of European and U.S. stock markets could influence the direction of oil prices.

WTI prices are finding support at the 69.4 and 69 levels, with resistance levels being monitored at 70 and 70.5. During intraday price movements, it is trading at the 69.515 level. The RSI indicator, with a positive trend, is at the 53 level. Oil prices, which have increased by 0.46% compared to yesterday's close, may remain under downward pressure unless there is movement above the 70 resistance. If prices surpass the 70 resistance, a recovery up to the 71 level could be observed.