WTIUSD

This week, two main factors stand out for oil prices: the EIA crude oil inventories report on Wednesday and the Fed's decision that will shape global growth expectations. Prices are currently trying to hold above the pivot level of 62.347. A significant decrease in inventory data and the perception that the Fed's dovish steps will support economic activity could push WTI past the resistance of 63.408 and up to the level of 64.676. However, an unexpected increase in inventories or rising recession concerns following the Fed's statements could trigger worries about oil demand, pulling prices down towards the support levels of 61.079 and 60.018.