BRNUSD

Oil prices are finding support from China's commitments to growth incentives and declining inventories in the US. These developments have recently led oil prices to test their highest levels since October 14. However, the limited decline during the day could shape up based on the trends in European and US markets and the flow of US data. While mixed signals persist in global markets, the rise in the dollar index and the fluctuations in US indices are among other factors affecting oil pricing.

Technically, the BRNUSD pair is trading just above the 75.75 level, and staying above this level is significant for a bullish outlook. In upward movements, the 76.50 and 77.00 levels can be monitored as resistance. In potential pullbacks, the support levels to watch are 75.75, 74.65, and 74.25. The RSI indicator is at the 54 level, exhibiting a positive trend. A 0.34% drop compared to the previous day indicates a slight retreat in prices, but the overall upward trend is maintained.