BRNUSD

Crude oil futures experienced a limited decline despite rising geopolitical risks due to the increase in U.S. inventories. Developments such as Ukraine's long-range missile attacks on Russia and Russia reserving the right to use nuclear weapons increased geopolitical risk perception. Nonetheless, the U.S. Energy Information Administration's announcement of an increase of about 500,000 barrels in inventories pressured the prices. The trajectory of European and U.S. stock markets is among other factors that could impact oil pricing throughout the day.

From a technical perspective, as long as the BRNUSD pair maintains above the 72.50 - 73.00 support levels, it may show an upward trend. In potential rises, the 73.50 and 74.00 resistance levels can be targeted. However, if the downward trend continues, closures below the 72.50 level should be closely monitored. In this case, the 72.00 and 71.50 levels may come into play as supports. The RSI indicator stands at the 50 level, presenting a neutral outlook and not indicating a clear direction in price movements. It is observed that the pair ended the day with a 0.11% decline.