WTIUSD

Oil prices have started to rise due to Israel's attacks on Lebanon. While the U.S. Energy Information Administration's stock increase data has a short-term effect, uncertainties regarding the U.S. elections and Fed decisions are causing a cautious stance in the market. Fluctuations in the dollar index and U.S. bond yields can also impact oil prices.

WTIUSD is displaying an upward trend on the four-hour charts. The pair is trying to test the 71 resistance level while continuing to stay above the 70.50 level. The RSI indicator is at 60 and shows a positive outlook. Price movements exhibit an upward change of 1.89%. In downward movements, the 70, 69.5, and 69 support levels can be monitored. The 71.5 and 72 resistance levels can be targeted in upward movements.