WTIUSD

The oil market continues to be under pressure with the weak demand outlook and the American Petroleum Institute's statements on stock decreases. While mixed trends are observed in Asian markets, the U.S. inflation data announced in line with market expectations attracted attention. The dollar index continues its rise, reaching the highest levels of the year, while the increase in U.S. 10-year Treasury yields is among the factors being closely monitored by the markets. As the likelihood of the Fed raising interest rates in December strengthens, investors will continue to monitor the progress of European and U.S. stock markets during the day.

WTIUSD prices continue to move below the resistance levels of 68.50 – 69.00. In the chart, these levels observed in the hourly timeframe stand out as a significant barrier for the price, while downward movements may target the support levels of 67.50 and 67.00. The RSI indicator is at the level of 42, presenting a negative outlook. There has been a 0.12% drop compared to the previous day. In the event of possible recoveries, closures above the 68.50 – 69.00 resistance should be monitored, and in this case, the levels of 69.50 and 70.00 may come into play.