BRNUSD

Oil futures contracts started the new week with a recovery effort after the decline that occurred on Friday. While uncertainty increases with Biden's withdrawal from candidacy, the process of determining the Democratic candidate will be followed. We will continue to follow production and inventory figures within the important data flow in the US throughout the week. Brent oil saw a high of 85.95 and a low of 83.04 on the previous trading day. Brent oil, which followed a selling trend on the last trading day, lost 0.5% daily. The RSI indicator for the commodity, which is below its 20-day moving average, is at 47.53, while its momentum is at 97.18. The 83.81 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 84.49 and 85.29 may become important. In possible pullbacks, 82.78, 82.21 and 81.77 will be monitored as support levels. Support: 82.78 – 82.21 Resistance: 83.81 – 84.49