ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL stays at the top of the last 7 years
Inflation projections of the devaloped countries continue to increase the demand for oil, following the attack on fuel tankers in the United Arab Emirates (UAE) and the explosion in the Iraq-Turkey oil pipeline lead to bullish moves in UKOIL. Technically, the black gold tested the highest level of the last 7 years and if it stays above 86.20, we will see it heading towards 89.25 and 90.60 indicated by Fibonacci 161.8 expansion line. On the other side, 84.80 will be on our radar in bearish moves below 86.20.
