The technical picture in Brent crude oil futures (BRNG2025 on ICE Europe) has not changed much since the previous review. Quotes still show weak volatility.
Yesterday, black gold was unable to rise above the 20-day moving average and continued to cling to the line of its short-term trend. It can be assumed that the price is accumulating strength for an impulse breakthrough – but it is problematic to determine its direction. For the growth scenario, it is necessary to consolidate above $73 per barrel.
The strong dollar is putting pressure on the asset. Support is provided by positive expectations regarding the upcoming OPEC+ meeting, as well as news about possible new incentives for the Chinese economy.
This evening, the dynamics of oil prices may be affected by the data from the American Petroleum Institute (API) on the weekly change in oil reserves in the country.