WTIUSD

Oil prices are seeking direction ahead of the U.S. crude oil inventory data to be announced tomorrow. While the inventory data may create short-term volatility, the main direction will be shaped by global demand expectations set by the U.S. PMI and Germany's GDP data to be released later in the week. Weak data could heighten demand concerns, putting pressure on prices.

Technical Levels: 65.280 - 64.505 - 63.916 - 62.955 - 62.366 - 61.405 - 60.630
Technical Comment: As long as the pivot level of 62.955 is maintained, the resistance levels of 63.916 and 64.505 can be targeted. If the pivot is broken, the support levels of 62.366 and 61.405 will gain importance.