ANALYSIS
NQ100 Finds Support from PPIApr 14
First Wave of Short Selling Continues in NQ100
The first FOMC meeting of 2022 will be concluded tomorrow at 21:00 (GMT+2). Expectations that the Committee will mention about rate hikes are leading to selling in the index. In addition, loss of momentum in locomotive sectors of the US economy has a downward effect on the technology index. Considering all these, we will follow 14 135 and 14 000 levels located below Fibonacci 38.2 percent fan line. We will also keep an eye on 13 865 support in further decreases. On the other side, 14 400 – 14 540 zone will be a strong resistance line.
