ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pressure May Continue in Brent Oil
The fact that the recession possibilities for developed countries remain alive continues to keep brent oil prices under pressure. Here, hawkish expectations regarding the tightening policies of central banks dealing with high inflation problems weigh on brent oil. As a matter of fact, while the possibility of 75 basis points interest rate hike at the FED's monetary policy meeting tomorrow is quite high, the dollar, which is strengthened by the effects of this, has a strong effect on brent oil. In this context, the 89.60 level can be followed closely in brent, which will maintain its minor downward trend, as long as it remains below the 92.90 level indicated by the 100-period exponential moving average. In the transitions below this point, 86.75 support, which will be the lowest of about 2 weeks, can be brought to the agenda. On the possible crossing above 100 EMA, 94.55 resistance can be followed.
