BRNUSD

Oil prices remain under pressure due to U.S. President Trump's tariff increase threat against China and plans to boost U.S. oil production. The increasing uncertainties regarding the global economy necessitate closely monitoring the volatility, especially in European and U.S. stock exchanges. Asian markets are seeking balance in response to Trump's statements; however, the potential negotiations on tariffs against China stand out as a pressure factor in the markets. Following yesterday's losses, the U.S. dollar index shows a limited recovery, while U.S. 10-year Treasury yields hover at 4.59%.

The technical outlook for oil prices indicates a downward trend as long as they remain below the 79.50 – 80.00 resistance zone. Support levels can be observed at 79.00 and 78.50. The price stands at 78.575, marking a 0.05% decrease compared to the previous day. If a favorable recovery occurs, surpassing the resistance points and closing hourly above 80.00 may pave the way for new upward potential. The RSI indicator exhibits a negative trend, suggesting further price declines. However, should the price rise above 80.00, the level of 80.50 may come into play.