ANALYSIS
NQ100 Finds Support from PPIApr 14
UKOIL: The Level 109.50 Marked by 30 WMA Will Be Decisive in Brent Oil
Recently, recession concerns of developed countries had put pressure on brent pricing. However, the current supply concerns were contributed by the G7 countries' plan to impose a ceiling price on oil to be imported from Russia. Technically speaking, if the 112.60 level can be exceeded, the 114.00 resistance indicated by the Fibonacci 78.6 percent correction line may come to the fore in the commodity, which can give buy signals as long as the 30-period weighted moving average is preserved as support. In case of a possible transition below 30 WMA, 108.40 support can be followed.
