Minister Bayraktar: 12-Month Oil Agreement Ready for Signature

Although the news is perceived as a positive step toward supply security, it does not include any concrete demand increase or supply cut that would push prices higher in the short term. Technical indicators show RSI at 47 in neutral territory, MACD below the signal line, and the price trading below the 20-day moving average. This suggests weak upward momentum and that the market is awaiting a new catalyst. While the signing of the agreement may provide stability in the medium term, the price is expected to continue fluctuating within the current range in the short term.

The news serves as a direct positive catalyst for TUPRS. The oil deal being ready for signing could reduce the company's raw material supply costs and operational uncertainty. Technical indicators also support this positive outlook; the RSI at 65 is not yet in overbought territory, the MACD is above its signal line, and the price is trading above both the 20-day and 50-day moving averages. While the likelihood of continued upward movement in the short term is high, some caution is warranted as the market focuses on the details of the agreement and its implementation timeline.