ANALYSIS
NQ100 Finds Support from PPIApr 14
50 EMA is Monitored in Brent Oil
Although recession risks in global markets weigh heavily on brent oil prices, the effects of Russia's missile attacks in many cities, especially the Ukrainian capital Kyiv, and the 2 million barrels per day production cut decision of the Organization of Petroleum Exporting Countries (OPEC), keep brent oil prices alive. Technically speaking, the 96.00 resistance may enter the radar of market players if it can be passed with pressure above 94.80 in the commodity that is likely to continue its buyer pricing as long as it remains above the 92.55 level indicated by the 50-period exponential moving average. In possible decreases below the 50 EMA, 91.40 support can be followed.
