ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil on Recovery Trail
Although the increase in crude oil stocks in the U.S., which is the focal point of global markets, caused Brent oil prices to decline slightly, the partial alleviation of concerns about the coronavirus epidemic in China, the world's largest oil importer, led to a moderate recovery in the Brent oil losses. In addition, supply concerns that may arise from high tensions in the Russia-Ukraine war are also keeping precious oil prices on edge. Technically, precious oil breaking the slight downtrend and moving above the 50-period simple moving average with short-term upside potential can rise to resistance at 109.20 if it manages to break the 107.40 level permanently. In case of possible downward movement of the commodity, the psychological support of 100.00 to 102.70 can be observed.
