ANALYSIS
NQ100 Finds Support from PPIApr 14
Crude Oil Continues to Maintain the Pressure on It
The European Union's (EU) proposal to impose a ceiling price on Russian oil within the scope of the new package of sanctions and the leaks in the Nord Stream pipelines creating concerns about supply shortages in the energy markets supported crude oil to some extent. However, the fact that recession risks towards developed countries remain alive hinders the permanent recovery of crude oil. In addition, the possibility of the dollar, which is strengthened by the hawkish statements of the leading officials of the US Federal Reserve (FED), tightening the supply has an impact on crude oil pricings. Technically, it is seen that crude oil is in preparation for a rising wedge formation. If the psychological 80.00 support can be broken with declines, with the end of the formation, the withdrawal can continue until 78.60, where the Fibonacci %61.8 ret line marks. In possible upward attacks, 82.50 – 83.70 resistances can be followed.
