ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:10 MA Will Be Followed in Brent Oil
The recent increase in recession concerns for developed countries continues to put pressure on brent oil prices. On the other hand, Iran has reduced the price of its oil in order to compete with China and Russia, and there has been an increase in Covid-19 cases in the last week in Anhui province in eastern China. These also have an effect. Technically speaking, as long as the 113.50 level indicated by the 100-period simple moving average is not permanently exceeded, the 107.20 support can be followed after the 109.00 level in precious oil, which will signal the selling potential. A rise can be observed up to 115.80 resistance on a possible crossing above 100 MA.
