BRNUSD

Oil prices are finding it difficult to carry the recovery momentum it gained before the Christmas holiday into the Asian session. Despite short-term positive demand expectations, concerns about a supply surplus, especially for the year 2025, are exerting pressure on prices. The course of European and US stock markets today may influence oil pricing. Although a rise is observed in Asian indices due to positive sentiment in the US, US futures indices are trading flat. The upward trend in the dollar index stands as a negative factor for oil prices.

On the chart, oil prices are trading at the level of 72.585. In downward movements, the levels of 72.00, 71.50, and 71.00 stand out as support. In upward movements, the levels of 72.75, 73.00, and 73.30 can be monitored as resistance. The RSI indicator is at the level of 46, and the market exhibits a neutral outlook. As long as the prices remain below the 72.75 resistance, the downward trend is likely to continue. A decline of 0.04% in prices compared to the previous day is observed.