WTI

Oil prices have been on the rise again since yesterday due to increasing geopolitical risks. The attack on a commercial ship in the Red Sea, the US attacking some areas in Iraq that it claims belong to Iran-backed groups, and the Iraqi government condemning this, have been effective in increasing prices. As long as pricing remains at and above the 74.50-75.00 support level in the upcoming period, an upward trend may be at the forefront. In possible increases, 75.50 resistance levels can be targeted, followed by 76.00 and 76.50 levels. In possible decreases, as long as the 74.50-75.00 support level remains current, new upward potential may occur. Therefore, it may be necessary to see the course below 74.50 and hourly closings for the continuation of the desire to decrease. In this case, 74.00 and 73.50 levels may come to the agenda. Support: 74.50 Resistance: 76.00