BRENT

Oil futures continued their downtrend amid speculation that more progress has been made on a possible ceasefire between Israel and Hamas. We will be following the course of European and US stock markets as well as the Middle East agenda during the day. It seems that there is a general downtrend. Brent oil saw a high of 88.14 and a low of 86.89 on the previous trading day. Brent oil, which followed a selling trend on the last trading day, lost 0.92% daily. The RSI indicator for the commodity, which is below its 20-day moving average, is at 49.95, while its momentum is at 97.26. The 87.42 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 87.96, 88.68 and 89.21 may become important. In case of possible pullbacks, 86.70, 86.17 and 85.45 will be monitored as support levels. Support: 86.17 – 85.45 Resistance: 87.96 – 88.68