WTIUSD

Oil prices are on an upward trend despite increasing tensions between Israel and Lebanon and the U.S. Energy Information Administration’s stock increase data. Expectations created by the vote counting process in the U.S. and Trump's pro-growth policies are also influencing the markets. The strengthening of the dollar and the rise in U.S. bond yields may indirectly affect oil pricing. However, current geopolitical tensions and uncertainties regarding the U.S. election results will be decisive for the direction of oil prices in the short term.

From a technical perspective, the WTIUSD chart is being examined on a 4-hour time frame. The pair is continuing its upward movement, gaining strength from the 71.00 support level. Levels of 72.00 and 72.50 should be monitored as resistance points if the upward movement persists. The RSI indicator stands at 46, indicating a neutral outlook. This suggests that the market has not determined a clear direction. In downward movements, levels of 70.50 and 70.00 should be monitored as supports. A decline of 1.72% compared to the previous day is observed.