BRNUSD

Oil futures showed some pause during the Asian session after increasing their gains due to geopolitical risks. The perception that negotiations between Ukraine and Russia have not made sufficient progress, combined with the weakening likelihood of an agreement between Iran and the U.S., deepens uncertainty in the markets. Throughout the day, the status of European and U.S. stock markets and inventory data to be announced by the American Petroleum Institute should be closely monitored.

If prices remain above the support levels of 64.00 - 64.50, upward movements seem possible. In potential rallies, the levels of 65.50 and 66.00 can be set as targets. However, for possible declines to continue, movements and hourly closes below 64.00 should be observed; in this case, the level of 63.50 may come into play. Important level: 64.00 - 64.50.