ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:50 WMA Will Be Decisive in Brent Petrol
After the consumer inflation data announced in the USA at a high of 41 years, the expectations for the aggressive tightening of the Central Bank (FED) and the re-activation of epidemic measures in some provinces in China decreased the prices of Brent oil. However, while the demand for oil continues to be high during the driving season in the USA, it is observed that the sanctions race between the west and Russia continues to support the prices of the commodity. Technically speaking, the commodity, which is likely to maintain its buyer potential as long as the 115.70 level indicated by the 50-period weighted moving average is not broken, could raise the 123.20 resistance if it can break above the 120.40 level. In a possible transition below 50 WMA, 113.60 support can be followed.
