ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Oil Can Sustain Recovery
Concerns about a global economic recession are continuing to be a burden for Brent oil. However, we see that brent oil is heading for recovery with the expectations that the Petroleum Exporters Organization (OPEC) might cut production if Iran returns to oil production, and China, the world's largest oil importer, announced a support package for the economy. From this point of view, if the commodity, which carries out the channel change and continues its upward recovery, can rise above the 102.75 level with permanent closes, it can maintain its bullish potential up to the 105.40 resistance. Below, 97.40 support can be followed closely.
