ANALYSIS
NQ100 Finds Support from PPIApr 14
Brent Preparing for a Strong Retracement
The monetary tightening pressure of the US Federal Reserve (FED) on the energy market was not as severe as expected. At this point, the fact that the partial mobilization declared in Russia triggers supply concerns continues to be the main driver. From a technical point of view, it is seen that the commodity is preparing for the formation of a descending wedge with its movements in the narrow range. Above, 91.75 resistance is critical. Once this level is exceeded, purchases can end the formation by consolidated, and bring up the 95.00, indicated by the Fibonacci %50.0 retracement line, after 93.30 to the agenda. In possible recession, the range of 88.80 – 86.95 will play a role as a response zone.
