BRNUSD

Oil prices continue to remain under pressure during the Asian session after yesterday's declines. Despite the U.S. Energy Information Administration reporting a decrease of 1 million barrels in crude oil stocks, the increase of 6.3 million barrels in gasoline stocks is among the factors exerting pressure on the market. A strong dollar and weak inflation data from China are increasing global economic concerns, creating downward pressure on oil prices. The performance of European markets is being monitored as another factor that could influence intraday price movements.

From a technical perspective, Brent crude continues to trade below the resistance zone of 76.50 – 77.00. As long as it does not surpass this area, a downward outlook may remain prevalent. In intraday declines, the levels of 75.50 and 75.00 can be targeted as support. In potential recoveries, the stance of the 76.50 – 77.00 range will be important; if this area is broken upwards, the levels of 77.50 and 78.00 may come into focus. The RSI indicator is at the 50 level, exhibiting a neutral appearance with a slight increase of 0.09% compared to the previous day.