BRNUSD

Crude oil futures continue to display a downward trend amid expectations of weakened demand from China due to tariffs imposed by Trump, despite the U.S. sanctions on Iran. Throughout the day, fluctuations in European and U.S. stock markets will be closely monitored alongside U.S. employment data.

If prices remain below the resistance levels of 74.50 – 75.00, downward movements are likely to take precedence. In the anticipated declines, levels of 74.00 and 73.50 can be targeted. In the event of a potential recovery, as long as the resistance at 74.50 – 75.00 holds, new downside potential may arise. To sustain the upward momentum, movements and hourly closes above 75.00 will need to be observed. In this case, levels of 75.50 and 76.00 may come into focus. Key Level of the Day: 74.50 – 75.00.