BRNUSD
Oil prices are declining due to inflation cooling faster than expected in China and Beijing's stimulus measures failing to satisfy the markets. This pressure, which started in the Asian markets, is causing negative sentiment regarding oil demand to increase. Monitoring the performance of European stock exchanges during the day could influence the direction of prices. Inflation data to be released in the U.S. is being closely watched as a significant indicator for the Fed's interest rate policy.
On the chart, oil prices are observed at the level of 73.387. When analyzing the price movements in the daily time frame, it is seen that upward movements may encounter resistance at 75 and 75.5 levels. Downward movements might target support levels at 74, 73.5, and 73. The RSI indicator is below 50, showing a negative trend, and the market has lost 0.53%. If prices remain below the 74.00 – 74.50 resistance, the downward outlook is expected to continue.
Support :
Resistance :