West Texas Intermediate (WTI) Focus on OPEC+ Meeting as Markets Stay Muted During US Thanksgiving
West Texas Intermediate (WTI) oil prices were muted, while broader markets remained subdued due to the US Thanksgiving holiday closure on Friday.
Crude prices were weighed down by the announcement of a ceasefire between Israel and the Lebanese militant group Hezbollah, though uncertainty over whether the truce will hold persisted.
Meanwhile, heightened tensions between Russia and Ukraine continued to keep markets on edge.
Technically, the 3-day Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show mixed signals, while the Average Directional Index (ADX) indicates a ranging market.
Following a recent bounce from support at $66.60–80, the upside target remains $72.20–25.
Traders should reassess positions at this level to account for potential profit-taking.
Daily Chart West Texas Intermediate (WTI)
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