ANALYSIS
NQ100 Finds Support from PPIApr 14
Fibonacci 61 percent fan line will set the tone in Brent
After the lockdown measures against coronavirus cases, we observed sales in Brent oil and then, these movements gained momentum after the USA brought the release of strategic reserves into the agenda. However, purchases of today limited these downward movements. In addition, the commodity exceed Fibonacci 61 percent fan line again and it may reach 107.80 resistance indicating Fibonacci 50 percent fan line. On the other hand, 103.85 and 101.85 will be on our radar below Fibonacci 61 percent fan line in the descending minor channel.
