ANALYSIS
NQ100 Finds Support from PPIApr 14
Chinese Impact on Brent Oil
The recovery of brent oil pricing against the relatively weak dollar was not permanent. On the other hand, the number of coronavirus cases in China, which is the world's largest oil importer, has started to increase alarmingly. In addition, protests against China's strict Covid restrictions continue for the third day. Sources state that the measures could be expanded. With the effects of these, we see pressure on brent oil pricing. When examined technically, the psychological 80.00 level will be followed closely in the commodity, which sees the pre-war levels with the channel movement. In the transitions below this point, the 78.80 level, which will be the lowest level since January, may come to the fore. In possible upward attempts, 82.50 and 83.75 resistances can be observed.
