BRNUSD

The oil market is experiencing an upward trend due to Europe's new sanctions on Russia and the U.S. Energy Information Administration's reports on inventory declines. Although there is ongoing uncertainty regarding global demand, developments such as the performance of European and U.S. stock exchanges and the European Central Bank's monetary policy statement may shape oil prices. As long as pricing continues to hold above the 72.50 – 73.00 support, upward movements may be observed.

Technically, the BRNUSD pair is trading above 73.00, and if the upward momentum continues, resistance levels at 74.00 and 74.50 can be monitored. In potential downward movements, the 72.50 – 73.00 support zone is crucial. The RSI indicator is at the 52 level, reflecting a neutral outlook. Oil prices have increased by 0.30% compared to the previous day, indicating some positive sentiment in the market. Closures below 72.50 could increase selling pressure.