ANALYSIS
NQ100 Finds Support from PPIApr 14
Bullish Momentum in NQ100 is Maintained
The countdown to the February meeting announcement of the Federal Open Market Committee (FOMC) has begun. Market expectations regarding the decision, which will be announced today, are to reduce the policy tightening rate to 25 basis points. While this situation puts pressure on the dollar in global markets, it supports stocks. Technically speaking, the NQ100 index seems to maintain its bullish momentum. Below 11 930 is at the main support position. As long as the persistence above this point is preserved, the probability of the index to expand to 12 520, which is indicated by the Fibonacci 100 percent expansion line, will continue to increase after 12 200 and 12 360. In surprise drops below 11 930, 11 775 support can be observed.
