ANALYSIS
NQ100 Finds Support from PPIApr 14
Psychological 90.00 to be Followed in Brent Oil
Brent oil pricings continue to retreat after the Joe Biden administration in the US announced that it plans to bring 15 million barrels of oil from the strategic oil reserve into use. In addition, the decrease in natural gas prices to 112 euros in Europe also has an effect here. Technically, it is possible to say that the risk of retracement will increase as long as the permanence is provided below the psychological 90.00 level in the commodity, which is seen to have made a trend change within the descending major channel. In this context, if it is passed below the 87.50 level, the declines may continue until the support of 86.40 and then 85.15. In the possible transition above the psychological 90.00, 91.20 resistance can be followed.
