ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Leads to Recover Losses
Depending on the negotiations with the West, the possibility of Iran returning to the market with its oil production and the expectations that the Petroleum Exporters Organization (OPEC) could make production cuts caused a reaction against Brent. In the technical view, the 104.15 level, which was cut by the Fibonacci 38.2 percent correction line, may come to the fore in the recovery of the commodity, which confirms the end of the downward trend by breaking the descending wedge and recovering to the 102.00 resistance. In possible retracements, 97.90 and 95.55 supports can be followed.
