WTIUSD

Oil futures started the new week on a balanced note as markets assess the potential supply surplus expected next year. Uncertainties surrounding the U.S. trade policies, especially concerns regarding sanctions and tariffs on countries like Iran, Mexico, and Canada, could impact pricing. Additionally, due to the new year holiday, trading volumes in the markets are expected to decrease, which could increase price volatility. The trajectory of European and U.S. stock exchanges is also being closely monitored for its impact on oil prices.

In the chart, the WTIUSD pair is trading at the 70.4 level. In the daily timeframe, the 70.1 and 70.4 levels are being watched as support, while upward movements monitor 71 and 71.5 levels as resistance. The RSI indicator is close to the 50 level, showing a neutral outlook. The pair demonstrated an upward trend with a 0.77% increase compared to the previous day. If prices fall below the 70.1 level, a pullback towards the 69.7 level may come into consideration.