ANALYSIS
NQ100 Finds Support from PPIApr 14
100 MA Could Be Determinant in Brent Oil
With the increase in the number of coronavirus cases in China, the tightening of the restriction measures pulled the brent oil pricing down a little. However, the news flows of the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut production continue to hinder the permanent declines of brent oil. Technically, the commodity, which is likely to maintain its buyer potential as long as it stays above the 93.00 level indicated by the 100-period simple moving average, may be likely to take the 96.65 level to the agenda when it crosses above 95.40. In the possible decreases below 100 MA, a pullback can be observed to the level of 91.75.
