WTIUSD

The pivot level for WTIUSD is 61.601, with resistances at 62.514, 63.251, and 64.076, and supports at 60.864, 59.950, and 59.125. Oil prices continue to be sensitive to global economic activity and the supply-demand balance. A movement above the 61.601 pivot could lead to acceleration towards the resistances at 62.514 and 63.251. In pullbacks, 60.864 will maintain its significance as the first support level. Concerns over economic slowdown implied in the FOMC minutes may exert some pressure on oil demand in the upcoming period.