ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil Settles Above 50 WMA
In the USA, which is at the focal point of global markets, we have seen that brent oil weakened with the recent aggressive tightening messages from the Central Bank (FED) Governing Council members. However, the announcement that Russian forces made progress towards Odessa and other regions by hitting targets in the southeast of Ukraine in the Russia-Ukraine war brought along supply concerns. Technically, as long as 110.20, which is the 50-period weighted moving average (WMA), is defended below as a support, the upside outlook will be preserved, and if the commodity can complete its transition to 112.90 resistance, it can erase 2-month losses at the 114.55. In case of possible sags below 50 WMA, 108.85 support can be followed.
