ANALYSIS
NQ100 Finds Support from PPIApr 14
Rises in UKOIL continues within the Wave 2
Military tension between Russia and Ukraine continues to rise. Geopolitical risks and possible invasion of Ukraine boost oil prices. Despite the rise in demand, OPEC’s decision to not to change the current production plan also affects the prices positively. As a result, the commodity is still in the Wave 2 and if it exceeds 88.85 resistance level permanently, we will follow 90.00 and 91.30 resistance levels. On the other side, 86.65 will be our support level.
