ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil Begins to Decline With Recession Concerns
While the dollar showed a strong outlook after the US Federal Reserve (Fed) increased the policy interest rate by 75 basis points to the range of 1.50 - 1.75 percent yesterday, the Brent crude oil prices increased due to the increasing concerns in Wall Street that the aggressive tightening process would harm economic activity and put the country into recession. Technically, the precious oil, which is heading for losses by ending the channel movement on the fourth trading day of the week, may continue to be dissolved until 112.00 support, if it permanently passes behind the 113.40 level. In possible upward movements in Brent oil pricing, 117.00 resistance can be followed closely.
