ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30:Index Maintains Its Downtrend
On Friday we left behind, a slight recovery was observed in the index, with the People's Bank of China (PBoC) lowering the 5-year loan main interest rate by 15 basis points to 4.45 percent, pointing out that the economic indicators deteriorated due to the coronavirus precautions. But lately, we have seen the DOW30 index come under pressure, with the Federal Open Market Committee (FOMC) Governing Council Members at the bank's June and July meeting with 50 basis points of the interest rate hike. Technically speaking, if the bearish trend is preserved in the index, if it can be permanently passed below the 31 400 level, a regression to 31 260 support can be observed. In the possible upside scenario, 31 770 resistance will be followed closely.
