WTIUSD

WTI crude oil prices declined following US President Trump's call to OPEC to lower oil prices. A 1 million barrel decrease in inventories, as announced by the US Energy Information Administration, briefly pushed prices upwards. However, in the general outlook, prices continue to trend downwards due to the influence of European and US PMI data, as long as pricing remains below the 75.00 – 75.50 resistance levels.

From a technical perspective, on the WTIUSD chart, the levels of 74.00 and 73.50 are monitored as support. In upward movements, the resistance levels to watch are highlighted as 75.00 and 75.50. The current price is at 74.395, indicating a 0.64% decline. The RSI indicator shows a neutral outlook, suggesting market indecision. If there are hourly closures above the 75.50 level, there could be potential for an increase towards the 76.00 level.