ANALYSIS
NQ100 Finds Support from PPIApr 14
Upward Movements Stay Strong in Brent Oil
Regardless of that the United States' strategic oil reserves have fallen to their lowest level in 38 years, with 450 million barrels, expectations that the Petroleum Exporters Organization (OPEC) will cut production if Iran resumes oil production continue to support Brent oil. Technically, if Brent oil can stay above the 103.25 level and maintain its buyer potential in the rising channel movement, it can extend its upward path to 106.00 resistance, which will be a 1-month high. On the downside movements, 98.95 and 96.65 supports will be followed closely.
