ANALYSIS
NQ100 Finds Support from PPIApr 14
DOW30 May Deepen The Losses
The dollar, strengthened by the fact that some of the leading FED Members in the global markets think of a 75 basis point interest rate hike in September at the monetary policy meeting, despite the declining inflation from the peak, continues to put pressure on relatively risky assets. In addition, according to IHS Markit and S&P Global reported on the day we left behind, the decline of the composite PMI data to 45.0 points, the lowest level since May 2020, has a downward effect on the index. Finally, the Jackson Hole symposium, which will start tomorrow, will be in the close circle of market players in terms of asset pricing. Technically, if the DOW30 index, which is heading towards the correction path by completing the ascending wedge formation, can leave the 32 640 level behind with permanent closes, losses can be opened up to the 32 210 support, which is marked by the 32 400 then the Fibonacci 50.0 percent retracement line. Above, 33 140 resistance can be followed after 33 320 resistance.
