ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:50 WMA Will Be Decisive
Hawkish statements from Members of the Governing Council of the Central Bank of the United States (FED) hinder the recovery of the NQ100 index. As a matter of fact, FED Member Christopher Waller stated that if the economic data came as expected, he would support the 75 basis point rate hike in July, while Cleveland FED Chairman Loretta Mester pointed out that the recession risks have increased as the effects of the tightening path, which is one of the important factors in the failure of the technology index. Technically, if the 11 185 level can be left behind in the index, which can maintain its negative pricing unless the 11 465 level indicated by the 50-period weighted moving average is permanently exceeded, a decline up to the psychological 11 000 support can be recorded. At the transition over the possible 50 WMA, the resistance 11 600 can be monitored.
