WTIUSD

WTI oil prices are rising due to geopolitical tensions fueled by Israel's ongoing attacks on Lebanon. Although the U.S. Energy Information Administration recently reported an increase in inventories, which created a short-term pressure on oil prices, the market seems to have absorbed this development. Additionally, volatility in European and U.S. stock markets may influence oil prices. During this process, prices remaining above the support level of 70.50-71.00 dollars could support an upward trend. However, if prices fall below these levels, further decline potential may come into play.

Technically, WTIUSD is trading at the 72.240 level on the 4-hour chart. The first resistance level is observed at 72.50, with higher levels of 73.00 and 73.50 drawing attention. In downward movements, the 71.50, 71.00 and 70.50 levels should be monitored as support. The RSI indicator is at 60 and shows a positive outlook, indicating that the upward movement may continue. With a 0.21% increase compared to the previous day, the market has an upward momentum.