ANALYSIS
NQ100 Finds Support from PPIApr 14
Oil is bullish as Russia – Ukraine Conflict rises
Although the increase in the EIA crude oil inventories in the USA above the expectations weakened Brent somewhat, conflict intensified (Reuters reported that the first fire was opened on the Russia-Ukraine line) and supports the bullish Outlook by leading to supply concerns. Technically, ascending channel movement continues and if Brent settles above 92.15, we will follow 93.50 resistance level. On the other side, 89.70 and 88.30 will be our targets.
