BRNUSD

Oil futures continue their rise due to the increasing geopolitical tensions between Ukraine and Russia. Recently, Russia's intercontinental ballistic missile attack on Ukraine heightened risk perception in the markets, influencing oil prices upwards. Additionally, the expectation that OPEC+ may delay the easing of production restrictions at its meeting in early December also supports prices. In light of these developments, movements in the European and US stock markets could also impact oil prices.

Technically, the BRN/USD pair continues to hold above the 73.50 – 74.00 support levels. In upward movements, the resistance levels of 75.00 and 75.50 could be monitored. In case of potential declines, movements below 73.50 could bring the levels of 73.00 and 72.50 into focus. The RSI indicator is close to the 50 level, exhibiting a neutral outlook. The pair has risen by 0.08% on a daily basis, indicating that upward potential still exists.