ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Oil Ends its Uptrend
In China, the world's largest oil importer, the increase in the number of coronavirus cases, the public authority's expansion of measures in important provinces decreased the demand for brent oil. On the other hand, we see that the weak outlook of the dollar has limited support for brent. From this point of view, in the persistence of the index, which ended the interim uptrend, below 93.50, it seems likely that the sales will continue to descend to 88.30, which is marked by the Fibonacci 61.8% retracement line, behind 90.00, on a consolidated basis. In a possible recovery above 93.50, 95.05 resistance can be observed.
