ANALYSIS
NQ100 Finds Support from PPIApr 14
NASDAQ opened bearish
US consumer prices hit the highest level of the last 40 years and all eyes are on the second FOMC meeting of the year, which will be held this week. Expectations that Fed will hike rates by 25 bps are putting pressure on NASDAQ. In addition, Russian invasion of Ukraine continues to lift oil prices, putting an additional load on the index. Technically, we observe sales following the completion of retracement movement and if 13 200 support is broken downwards, we will follow 13 020 support closely. On the other side, 13 520 and 13 665 will be on our radar as potential resistance levels.
