WTIUSD

WTI Crude Oil prices maintained their weak trend in the Asian session following the previous day's declines. Although the U.S. Energy Information Administration's report of a 1 million barrel decrease in crude oil inventories was a positive development, the 6.3 million barrel increase in gasoline inventories put pressure on prices. The strengthening of the U.S. dollar and concerns arising from low inflation in China created additional pressure on the market, causing prices to move downward. The performance of European stock markets can be closely monitored throughout the day. As U.S. markets are closed, the speeches of Fed officials, which might impact the markets, should also be carefully followed.

Technically, WTI Crude Oil continues to trade below the 73.50 - 74.00 resistance level during the day. As long as it stays below this level, downward movements are likely to target the 72.50 and 72.00 support levels. In the event of potential upward movements, if the 73.50 - 74.00 resistance zone is breached, levels of 74.50 and 75.00 may come into play. The RSI indicator is at 40, displaying a negative trend. Prices remain under pressure with a 0.04% decline compared to the previous day.