ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Further Disvaluation of Brent Oil is Expected
With the increase in coronavirus cases in China, the world's largest oil importer, the partial extension of the precautions in the capital Beijing reduces brent oil prices. In addition, it is observed that the European Union's (EU) oil embargo plan against Russia has softened, and it has seen a decline. Technically speaking, if the commodity that ended the intermediate ascending wedge formation is able to leave behind the 101.60 support in the minor bearish channel, it may decline to the psychological 100.00 support. In possible upward attacks, 106.20 resistance can be followed.
