ANALYSIS
NQ100 Finds Support from PPIApr 14
Preparation for Recovery in Brent Oil
Expectations of further relaxation of coronavirus measures in China, the world's largest energy importer, and the retreat of the dollar support Brent. Technically speaking, brent appears to have broken the minor descending wedge. However, if the commodity, which gives an expansion signal in the continuation of the trend, recovers to the 93.00 resistance, the 94.45 level cut by the Fibonacci 100% expansion line can be tested. In the retreats, the 90.55 – 89.15 line is the power collection zone.
