BRENT

Oil futures are showing an image stuck between the outlook for the Chinese economy and expectations for a Fed rate cut. The course of European and US stock markets and the stock figures to be announced by the American Petroleum Institute can be followed during the day. In general, a downward trend is seen. Brent oil saw a high of 85.68 and a low of 84.87 on the previous trading day. Brent oil, which followed a selling trend on the last trading day, lost 0.26% daily. The RSI indicator for the commodity, which is below its 20-day moving average, is at 48.36, while its momentum is at 98.87. The 85.27 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 85.67, 86.08 and 86.48 may become important. In possible pullbacks, 83.87, 83.46 and 83.06 will be monitored as support levels. Support: 83.87 – 83.46 Resistance: 85.27 – 85.67