ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Oil at Pre-War Levels
Although brent oil received some backlash due to the expectations that there might be supply-side problems after Russian President Vladimir Putin declared partial national mobilization in his country, the dollar, strengthened by the effects of the Federal Open Market Committee (FOMC)'s 75 base points "jumbo" rate hike at its critical September monetary policy meeting, continues to prevent valuable oil from entering a permanent recovery path. Technically speaking, the 85.00 level will be followed closely in brent, which continues its downward trend on the last trading day of the week, deepening its losses. In the transition below this point, it may be desired to try 83.75 support, which will be the lowest level since January. In the upward movements that may be experienced, 88.00 and 89.40 resistances can be followed.
