ANALYSIS
NQ100 Finds Support from PPIApr 14
FOMC Influence on Brent Oil
We see that brent oil pricing has receded after the Federal Open Market Committee (FOMC) hiked interest rates by 75 basis points yesterday. On the other hand, the increase in the number of coronavirus cases in China, which is the world's largest oil importer, has been negatively affecting brent oil with concerns that there may be a new restriction measure. Technically speaking, in the commodity, which is preparing for a rising wedge formation, if it can be passed below the psychological 93.00 level with permanent closings, a retreat can be seen until the 91.45 support with the completion of the formation. In the upside attempts, 95.60 and then 97.00 resistances can be followed.
