ANALYSIS
NQ100 Finds Support from PPIApr 14
84.35 Will Be Decisive in Brent Oil
Relaxation steps taken in coronavirus measures in China support energy demand. However, the fact that the energy ministers of the European Union member countries will meet on Monday to impose a price ceiling on Russian energy creates a downside risk in the energy market by creating the possibility that the Russian side will increase production. As a matter of fact, brent seems to maintain its descending channel movement. Unless the 84.35 level, which is indicated by the upper boundary line of the channel, is not exceeded with permanent closes, the probability of a descent to 79.30 behind 81.00 remains strong. If 84.35 is exceeded, 86.10 and 87.85 can be followed.
