ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent oil is still bullish
United Arab Emirates’ support for increasing oil production and Russian President Putin’s remarks on positive news on negotiations with Ukraine are negative factors for oil prices. However, as long as war is not over, supply concerns will set the tone in oil. Technically, 106.30 support will be critical and as long as it stays above it, upward movements will continue towards 111.70, 114.50, and 117.45 resistance levels. On the other side, 103.45 will be our support level below 106.30.
