ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil May Refresh 14-Year Peak
The announcement by the European Union (EU) that 90 percent of oil imports from Russia to the EU will be cut by the end of the year continues to be the main determinant of the rise in Brent oil prices. On the other hand, in Beijing, which is the largest oil importer in the world, the relaxation of some epidemic precautions has a positive contribution. Technically speaking, Brent oil, which continues its upward trend on the first trading day of the week, can continue its gains until the resistance of 122.70, the highest level it has seen since March 9, 2022, if it permanently surpasses the resistance of 120.50. Above this level, the 125.00 level, which will be the peak of 14 years, can be targeted. In a possible downside scenario, 118.00 and 115.40 support levels can be followed.
