ANALYSIS
NQ100 Finds Support from PPIApr 14
The Pressure May Increase in Brent Oil
After the news of the talks between the EU and Iran on the re-establishment of the nuclear deal and the strong decline in oil stocks in the USA, some recovery was observed in brent oil. However, due to recession concerns in international markets, some major factories' production cuts due to the worst heat wave in the last 60 years in China, expectations that the FED will continue its aggressive tightening due to high inflation rates, the pressure on brent oil has been reduced. We see that it is protected. Continuing its descending channel movement in this direction, precious oil may continue its decline until the psychological 90.00 support if it passes behind the 91.50 level with permanent closings. In possible upward attacks, 95.55 followed by 97.70 resistances can be observed.
