WTIUSD

WTI crude oil prices are caught between global growth concerns and expectations for the Fed's monetary policy on the last trading day of the week. The weak data from Germany this morning has raised demand concerns, while Powell's speech will be decisive. A hawkish stance and a strong dollar scenario could push oil prices below the support level of $80.50 and trigger a pullback towards $79.20. If Powell delivers messages supportive of economic growth or if geopolitical risks increase, it could help prices recover above the resistance level of $82.40 towards $83.80.