WTIUSD

WTI crude oil prices experienced a rise following the US sanctions on Russia, but observed a limited pullback due to profit-taking. The weak demand outlook from China and India's search for alternative markets may limit the impact of the sanctions. Movements in European and US stock markets may also influence the trend of oil prices. Additionally, the PPI data to be announced in the US and the statements from Fed officials are being closely monitored by the markets.

From a technical perspective, WTI crude oil prices are trying to stay above the support levels of 76.00 – 76.50. If the upward movements continue, the resistance levels of 77.50 and 78.00 could be targeted. In downward movements, the 76.00 – 76.50 support plays a critical role. Hourly closures below this level could lead to testing of the 75.50 and 75.00 support levels. The RSI indicator is currently at the level of 48, showing a neutral trend. A decline of 0.19% has been recorded compared to the previous day.