WTIUSD

The WTIUSD pair, after showing some recovery before the Christmas holiday, appears to be under pressure again during the Asian session. Although global oil demand expectations seem positive in the short term, concerns about an oversupply in 2025 are putting pressure on prices. The trajectory of European and US stock markets could be a decisive factor for oil prices. The Asian indices following the positive sentiment in the US could be considered a potential support element for oil prices. However, the continued negative territory of the US Richmond Manufacturing Index increases economic uncertainties.

In technical analysis, the WTIUSD pair is trading below the 69.40 - 69.70 resistance level. During intraday trading, the 69.00 and 68.50 support levels may be significant. The RSI indicator is at the 47 level, showing a neutral market trend. A 0.17% decrease is notable on a daily basis. Unless the 69.40 – 69.70 resistance is surpassed in potential upward movements, the downside potential may persist. However, if the price rises above the 69.70 level and makes hourly closings there, the 70.00 and 70.50 resistance levels may come into play.