ANALYSIS
NQ100 Finds Support from PPIApr 14
86.30 support will be critical in UKOIL
Expectations that the Organization of Petroleum Exporting Countries (OPEC) will stick to its previous production decision next week and rising tensions between Russia and Ukraine will lead to supply concerns, we observe bullish moves in UKOIL. Technically, 86.30 will be our key in movements and as long as it stays above it, we will target Fibonacci 100 percent expansion line indicating 89.70 and 91.00 resistance levels. In case, 86.30 is broken downwards, 85.00 will be the next support line.
