BRNUSD

Oil futures began with an upward trend due to rising geopolitical tensions in the Middle East. Israel's attacks on Lebanon are exerting upward pressure on oil prices, while the U.S. Energy Information Administration's stock increase data has lost its impact. The positive atmosphere in Asian markets is becoming evident with the post-election weakening of the Yen in Japan and the rise in the Nikkei index. The course of U.S. and European stock markets could be decisive for the direction of oil prices. Employment data in the U.S. and inflation data in Europe are among the topics closely monitored in the markets.

In the chart, the BRN/USD pair is trading below the 72.5 resistance level on the daily time frame. In upward movements for the pair, the levels of 72.5, 73, and 73.5 can be watched as resistance. In downward movements, the levels of 71.5, 71, and 70.5 stand out as support points. The RSI indicator is at level 30, presenting an appearance close to the oversold region. Compared to the previous day, the price has shown a decrease of 4.28%. This situation may indicate a potential for price recovery in the short term, although the downward trend continues.