BRNUSD

The oil market started the day with an increase as Israel's continued attacks on Lebanon and the U.S. Energy Information Administration's stock increase data had limited impact yesterday. Uncertainties before the U.S. elections and the upcoming Fed interest rate decision could affect oil pricing. Additionally, the performance of European and U.S. stock markets will be closely monitored throughout the day. In the market, as long as pricing remains above the 74.50 – 75.00 support, an upward outlook might dominate.

From a technical perspective, when the BRNUSD chart is examined in the short-term timeframe, it is likely for prices to test the resistance levels of 74.5, 75, and 75.5. In downward movements, the levels of 73.5, 73, and 72.5 are monitored as support. The RSI indicator exhibits an upward momentum with a positive trend, indicating that buyers dominate the market. The change in the chart indicates a 1.99% increase compared to the previous day.