ANALYSIS
NQ100 Finds Support from PPIApr 14
50 MA is Critical in Brent Oil
The expectation that the restriction measures will increase after the recent rising coronavirus cases in China, which is the world's largest oil importer, pulled the pricing of brent oil down a little. However, the news about the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut production and the issue of discussing the upcoming European Union (EU) restrictions allow brent oil to remain resilient. In addition, it is possible to say that the moderate dollar has had an impact in recent days. Technically speaking, brent, which continues to defend the channel movement from the 95.00 level indicated by the 50-period simple moving average, may be likely to bring up the resistance of 98.45 and then 100.00 in the persistent pricing behaviors above this point. In the possible movement below the 50 MA, the 93.20 support can be followed closely.
