ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30:Index Has Difficulty Finding Demand Before FED Meeting
The countdown has begun for the critical July meeting of the Federal Open Market Committee (FOMC). Committee members, who will meet today for a 75 basis point rate hike, will announce their decision tomorrow. However, due to the low investor risk appetite in the pre-meeting markets, we see that DOW30 has difficulty maintaining its gains while the dollar index strengthens. Technically, the index, which uses the 100-period weighted moving average (100 WMA) as a strong resistance, gives signals of dissolution from the correction zone, and if it stretches below the 31 465 support, depreciation can be seen up to the psychological 31 000. Above, the 32 245 – 32 600 range will continue to be the stabilization zone.
