ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL:Recession Pressure Continues in Brent Petrol
Iran's decrease in oil prices in order to compete with Russia and China, and the concerns brought about by the recent increase in coronavirus cases in China continue to be effective on brent oil. There is also pressure on recession concerns for developed countries. Technically speaking, downside risks will be protected as long as the 200-period weight passing through the upper border line of the descending channel is defended as 113.70 resistance indicated by the moving average. 107.00 support may come to the fore when crossing below the 108.90 level. On the possible crossing over 113.70, 116.00 resistance can be observed.
