ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil Rebounds With Reactions
The day before's macroeconomic data, which raised concerns about an economic slowdown, led to steep drops in Brent oil as the recession worries for developed nations persisted. However, on the third trading day of the week, we see that reaction purchases follow the losses. Here, it is possible to say that the tension in the EU-Russia line triggered the reactions. Technically, if the precious oil, which is supported by the ascending minor trend, can break the 105.00 level permanently, it can recover up to the 107.00 resistance marked by the Fibonacci 50.0 percent retracement line. Psychological support of 100.00 will be critical in the possible downside scenario.
