ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Oil May Decline to the Lowest Level Since February
Although the Russian Energy Minister's statement that oil production in Russia will decrease by %2 compared to last year in consequence of the sanctions gave some support to the commodity due to supply-side problems, in China, which is the largest oil importer in the world, the closure measures imposed on the country's major cities, Chengdu and Xinjin, due to the increase in the number of coronavirus cases continue to keep the oil prices of Brent under pressure. In addition, the strong stance of the dollar has a negative effect on the commodity. Based on this, Brent oil, which continues to maintain its lowering canal appearance on the third trading day of the week, can continue to dissolve until 89.65 support, as indicated by the Fibonacci %61.8 expansion line, if it is permanently below 91.15. In the upside trials, 93.85 and 95.65 resistances may be in question.
