ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil May End The Week Negatively
Continuing recession concerns in global markets continue to be one of the main reasons for the pressure on brent oil. As a matter of fact, the Chairman of the US Federal Reserve (FED) Jerome Powell pointed out that the possibility of a recession cannot be ignored. Technically, if Brent Oil can be permanently crossed below the 106.50 level, depreciation can be observed up to 104.60 support. The trend will stay lower as long as the 50-period weight moving average pointing to 110.80 is defended as resistance above.
