ANALYSIS
NQ100 Finds Support from PPIApr 14
Covid and EU Impact on Brent Petrol
After the moderate course of the dollar, we have seen that brent oil pricing has received a reaction in recent days. However, the continuous increase in coronavirus cases in China, which is the world's largest oil importer, and the expansion of restriction measures in some important cities, especially the capital Beijing, pulls down brent oil pricing. In addition, the news that the European Union (EU) evaluates the ceiling price level in Russian oil to be in the range of 65-70 dollars has a negative effect on brent oil. Technically, the commodity, which continues to defend its downward trend on the third trading day of the week, is likely to bring 83.50 support to the agenda if it goes below the 84.75 level permanently. Above, 87.25 and 88.50 resistances can be observed.
