WTIUSD

Crude oil futures continued to remain under pressure during the Asian session. Globally, the ample supply from the U.S. and OPEC+ is impacting the markets, while uncertainties regarding U.S.-China trade tensions persist. Throughout the day, movements in European and U.S. stock markets, along with inventory data to be released by the American Petroleum Institute, can be monitored.

As long as prices stay below the resistance level of 57.00 – 57.50, a downward trend may be observed. In potential declines, levels of 56.50 and 56.00 may be targeted. In case of recoveries, the resistance level of 57.00 – 57.50 becomes critically important. Closures above this level could bring forth new upward potential at the 58.00 and 58.50 levels.