ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL is bearish today
In China, the largest oil import of the world, coronavirus cases are increasing again, raising concerns and expectations that more strict measures will be implemented by Chinese authorities. As a result, we observed sales in Brent oil. In addition, Yemen′s Houthi rebels ceased fire for 3 days against Saudi Arabia, leading to further decreases. Technically, it is still within the descending channel and if we see it breaking 109.00, we will follow 106.10. On the other side, possible rises may hit 113.85 and 116.50 resistance levels.
