BRNUSD

Oil futures continue to remain under pressure following the cease-fire agreement between Israel and Lebanon. However, stern statements from Israeli Prime Minister Netanyahu despite the cease-fire seem to prevent prices from making new lows. Expectations that the production increase decision might be postponed ahead of the OPEC+ meeting also exert pressure on oil prices. The trajectory of European and US stock markets during the day will be crucial. Factors like potential US sanctions against China and PCE inflation could also influence global market dynamics.

From a technical standpoint, as long as Brent oil prices remain below the 72.50-73.00 resistance zone, downward pressure may persist. In this case, the levels of 71.50 and 71.00 could be monitored as support. In case of potential recoveries, the 72.50-73.00 resistance zone still holds importance, and unless hourly closures above this level are observed, new downward potential may remain on the agenda. The RSI indicator shows a neutral outlook. A change of 0.10% is observed at the current price level.