WTIUSD

The short-term direction search in oil prices is shaped by the global demand outlook and US economic data. Today’s data from the US (especially retail sales and the Philadelphia Fed Index) could influence demand expectations. The pivot level of 66.431 will be decisive for the medium-term direction. Resistance levels are at 67.294 - 67.879 - 68.603 above, while support levels are at 65.846 - 64.983 - 64.259 below. It is expected that after the data, the oil prices in the market may find direction again, but even if a direction is found, it is anticipated that the upward movements will not be sustainable.