ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL pulled downwards
High tensions in Russia – Ukraine War and possible supply concerns have led to high oil prices recently. However, lockdown and quarantine measures in Shangai and other cities of China ease the upward pressure on prices. Technically, oil has broken the ascending wedge pattern and headed for a recovery trend. If it exceeds 107.75 level, 105.65 indicated by Fibonacci 50.0 percent retracement line will be on our radar. On the other side, 113.00 and 115.80 resistance levels will be key for us.
