BRNUSD

Crude oil futures continue to be under pressure due to the weak demand outlook. The American Petroleum Institute's announcement of a 780,000-barrel decrease in stockpiles failed to change this negative sentiment in the markets. While a mixed trend is observed in Asia, the U.S. inflation figures aligning with expectations and the increased likelihood of a Fed rate hike supported the dollar index upwardly. This situation could create additional pressure on oil prices.

Technically, the BRNUSD pair may retreat towards the support levels of 71.50 and 71.00. If the price remains below the resistance levels of 72.50 - 73.00, the downward trend may continue. The RSI indicator is at the 71 level, while the market generally exhibits a neutral outlook. Despite observing a 0.08% increase compared to yesterday's closing, short-term recovery movements are noted; however, it would be challenging to speak of a stronger upward potential unless hourly closings above 73.00 occur.