WTIUSD

WTI oil prices continue under pressure on the first trading day of the week ahead of the OPEC+ meeting. China's faster-than-expected expansion in manufacturing activity helped limit losses in oil during the Asian session. However, uncertainties regarding OPEC+'s production policies and upcoming manufacturing data from the US and Europe lead to a cautious stance in oil markets. Additionally, the strengthening of the dollar following Trump's threats against the new currency initiatives of BRICS members could have negative effects on oil prices.

Technically, the WTI price is trading near the support level of 68.00. The levels of 68.00 and 67.50 can be monitored as support in downward movements. In upward movements, levels of 69.00 and 69.50 stand out as resistance. The RSI indicator is close to the 40 level, displaying a negative outlook. A 0.41% decline in prices compared to the previous day has been observed. This outlook indicates that downward pressure may continue if prices remain below the resistance of 69.50.