ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Oil Can’t Release The Pressure
After the Petroleum Exporters Organization (OPEC) meeting, with the decision to increase production by 100,000 barrels below the market expectations, the strong pressure of recession concerns in the global markets continues to be reflected in brent oil, which has shown some recovery. In addition, the 4.46 million barrels over-reporting of US oil stocks, well above expectations, has also had an impact. Technically speaking, the commodity, which signals negative movements in the descending minor channel, can regress to 92.00 support below the 93.75 level. Above, psychological 100.00 resistance remains critical.
