ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Brent Oil Tries to Reclaim Gains on Recession Worries
We see that the Brent oil contracts are under pressure with the recession concerns being expressed more loudly in the global markets. The manufacturing activities, which is the preliminary indicator of the growth performance of the US economy, decreased by 0.1 percent in May reading on Friday was effective here. It is very important that Cleveland Fed Chair Loretta Mester pointed out that recession risks are rising as the effects of the tightening path. Brent oil, which ended the uptrend it followed for 2 months under this outlook, can decline to 105.85 if it can sag behind the 108.15 support. In the possible recovery attempts of the commodity, 112.20 and 114.50 resistances will be followed.
