WTIUSD

Oil prices are gaining upward momentum with the increase in geopolitical tensions in the Middle East. Israel’s attacks on Lebanon are raising concerns about supply in the market, leading to a rise in prices. The stock increase data released by the U.S. Energy Information Administration seems to have lost impact in the short term. Movements in European and U.S. stock markets are attracting investors' attention, while developments in global markets and declines in U.S. bond yields may cause fluctuations in oil prices. Particularly, changes in U.S. durable goods orders and Michigan consumer sentiment indicators are being closely monitored in the markets.

Looking at the WTIUSD chart, we see that prices are holding above the 70.50 – 71.00 support zone. As long as these levels are maintained, the resistance levels of 71.50 and 72.00 can be targeted for further rises. On the 4-hour chart, the RSI indicator is at 45 and shows a negative trend. This may indicate that the market is under some selling pressure. If the price falls below the 70.50 support, the levels of 70.00 and 69.50 may come into question. Compared to the previous day, prices have decreased by 0.03%.