BRNUSD

Oil prices gained positive momentum as the OPEC+ meeting delayed the plan for production increase and the U.S. decided to impose sanctions on companies involved in the trade of Iranian oil. These developments led to an increase in oil prices and a reduction in market pressure. Following the American Petroleum Institute's announcement of a 1.2 million barrel increase in inventories, market participants are closely monitoring the stock data to be released by the U.S. Energy Information Administration. In this context, an upward trend in oil prices can be observed in the short term.

In technical analysis, the BRN/USD pair is trading at the level of 73.655. The levels of 73.00 and 72.50 are monitored as support, while 74.00 and 74.50 stand out as resistance. The RSI indicator, positioned at the level of 60, presents a positive outlook. A gain of 0.33% was observed with yesterday's increase. This situation indicates the possibility of a continued upward movement, while movements below the level of 72.50 could bring the potential for a decline into focus.