ANALYSIS
NQ100 Finds Support from PPIApr 14
100 EMA Will Be Determinant in Brent Oil
We see that the effects of the EU's proposal to impose a ceiling price on oil within the scope of the sanction package against Russia yesterday and the leaks in the Nord Stream line that created supply concerns in the energy market are not permanent in brent oil. In Brent oil pricing, the dollar and recession concerns, strengthened by the hawkish statements of the FED Officials, continue to be the main scenario. Technically speaking, the 83.45 support level may come to the fore when the commodity, which is unlikely to enter a permanent recovery path, unless the 89.25 level indicated by the 100-period exponential moving average is exceeded, loosens below the 85.00 level. In a possible transition above 100 EMA, 90.65 resistance may be in question.
