BRNUSD

The oil market is trying to find direction under the influence of interest rate cuts in China and geopolitical risks, but the weak demand outlook limits these effects. The trajectory of European and US markets could be decisive for the direction of oil prices. Notably, if intra-day pricing breaks outside the $73.50 – $74.50 range and hourly closings occur at these levels, it could add clarity to the market's search for direction. If the downward trend is dominant, levels of $73.00 and $72.50 could be targeted, while in a potential recovery, breaking the $74.50 resistance would be an important indicator.

From a technical perspective, when examining the BRN/USD chart on an hourly timeframe, it is trading near the $73.50 support level. In upward movements, the $74.50 resistance level can be monitored, and hourly closings above this level could bring $75.00 and $75.50 levels into focus. The RSI indicator is at level 48, showing a neutral outlook. There is a 0.07% increase in prices compared to yesterday's close. This situation indicates that the market is in search of direction but the overall trend has not yet become clear.