ANALYSIS
NQ100 Finds Support from PPIApr 14
USOIL: Crude Oil May Deepen its Losses
The weak dollar in global markets is an upside factor for crude oil pricing. However, despite Europe's ceiling price on Russian oil, the Russian side's consideration of increasing production remains the main driver in crude oil pricing. Technically speaking, it is clear that the descending channel movement in crude oil is preserved. As long as the 73.00 resistance above is not overcome by permanent closes, the commodity has great potential to deepen its losses to pre-war levels at 66.55, behind 68.80. In possible transitions above 73.00, 75.35 resistance can be followed.
