BRNUSD

Oil futures are experiencing fluctuations influenced by geopolitical tensions in the Middle East. The continuation of Israel's attacks on Lebanon is exerting upward pressure on the oil market. However, the increase in stockpiles announced by the U.S. Energy Information Administration (EIA) is seen as a factor alleviating supply concerns. The trajectories of European and U.S. stock markets are among other important factors that could influence the direction of oil prices. As long as the prices remain above the support levels of 74.50 - 75.00, upward movements are expected to remain prominent.

Technically, when examining the BRN/USD chart on a 4-hour timeframe, it is observed that the price is trading at the 72.568 level. In upward movements, resistance levels of 73, 73.5, and 74 should be monitored. In downward movements, support levels of 72, 71.5, and 71 can be watched. The RSI indicator is at the 53 level, displaying a neutral outlook. The pair has shown a decline of 0.11% compared to the previous day. This indicates that prices are following a balanced course and the market is in search of a clear direction.