ANALYSIS
NQ100 Finds Support from PPIApr 14
Recovery in USOIL may not last longer
It was observed that crude oil prices faced a reaction after the aggressive rate hike of 100 basis points is removed from the table for the time being. However, recession concerns for developed countries’ economies continue to pose a strong barrier to crude oil getting into a permanent recovery path. Technically, in the precious oil where the pressure is preserved in the descending minor channel, if it exceeds 94.00 level permanently, losses may continue until 91.60 support. On the other side, 100.00 resistance will continue to be decisive in possible rises.
