ANALYSIS
NQ100 Finds Support from PPIApr 14
100 WMA will set the tone in NASDAQ
The statements of the President of Ukraine, Vladimir Zelensky, that Ukraine no longer insists on NATO membership, supported the markets, creating expectations that the war would not expand any further. However, President Biden’s ban on Russian energy imports increased oil prices, raising expectations that the cost pressure on US companies will increase further. Technically, downward movements will continue unless 100-period weighed moving average indicating 13 520 is exceeded. In this scenario, we will follow 13 200 and 13 065 support levels. On the other hand, 13 680 will be our resistance above the 100 WMA.
