With the news that the Organization of Petroleum Exporting Countries (OPEC) is preparing for a major cut in oil production before the meeting to be held on Wednesday, we see that brent oil prices are headed towards receiving reaction with supply concerns. On the other hand, it can be said that moderate easing in the dollar has also supported brent oil pricing. Technically speaking, if UKOIL, which is in the preparation of a descending wedge on the second trading day of the week, rises above the 91.25 level permanently, it can rise to the level of 93.15, which is indicated by the Fibonacci 50.0% retracement line. In the downward movements that may occur, 87.20 – 85.00 supports may come to the fore.

Support: 87.20 – 85.00 – 83.25
Resistance: 91.25 – 93.15 – 95.00