BRNUSD

Crude oil futures are showing an upward trend following the New Year holiday, with the American Petroleum Institute announcing a 1.4 million barrel decrease in inventories and Chinese President Xi Jinping's commitments to support growth. The performance of European and US stock markets and the inventory figures to be announced by the US Energy Information Administration are expected to influence intraday price movements. Additionally, negative economic expectations in China and domestic security issues in the US are being closely monitored in the markets.

From a technical analysis perspective on the chart, the BRN/USD pair is trying to stay above the support levels of 74.25 - 74.65. Maintaining this level could support the continuation of upward movements. In case of increases, resistance levels of 75.50 and 76.00 could be targeted. In potential declines, hourly closings below the 74.25 level could bring 74.00 and 73.70 levels into focus. The RSI indicator is at 47 and shows a neutral outlook. The pair has shown a slight decrease of 0.05% compared to the previous day.