BRNUSD

Crude oil futures entered a recovery trend in the Asian session following the losses experienced the previous day. Factors such as declining inventories and sanctions against Russia support the upward outlook in the oil market. However, speculation that Trump might soften his stance on sanctions against Russia had been influential in the previous day's decline. The trajectory of European and US stock markets during the day could be decisive for oil pricing.

According to technical analysis, the BRN/USD pair is trading in the 81.00 - 81.50 support zone on the 4-hour chart. It is important for prices to remain above this support zone for the continuation of upward movement. Resistance levels of 82.00 and 82.50 could be targeted in upward movements. However, if the 81.00 - 81.50 support is broken, it is anticipated that the downward pressure could increase, bringing the 80.50 and 80.00 levels into consideration. The RSI indicator is at the 50 level, indicating a neutral outlook. The pair has shown an increase of 0.65% compared to the previous day.