BRNUSD

Brent crude oil prices continue to be under pressure with the reduction in demand expectations in OPEC's monthly report. Negative expectations regarding the Chinese economy and predictions of increased production outside of OPEC are also among the factors supporting this situation. Trade tensions between the US and China and the US interest rate policy further increase uncertainty in the markets. These developments negatively impact Brent oil prices, and movements in European and US stock exchanges can be closely monitored during the day.

From a technical perspective, Brent crude oil prices are exhibiting a downward trend on the hourly chart. As long as prices remain below the 72.50 – 73.00 resistance zone, the downward pressure may continue. In this case, the levels of 71.50 and 71.00 can be monitored as support. In potential recoveries, the 72.50 – 73.00 resistance zone remains an important level. The RSI indicator is at the 40 level, indicating a negative outlook. There was a 0.40% decrease compared to the previous day, signaling a technically weak market condition.