ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Continues to Defend the Descending Channel
In global markets, the effects of the Federal Open Market Committee's (FOMC) increasing interest rates by 75 bps to the range of 3.00-3.25 percent on Wednesday at the monetary policy meeting continue to linger. As a matter of fact, the US 10-year bond yields rose to the level of %3.71, reaching the highest level in 11 years. Technically, the technology index, which carries its descending channel movement to the last trading day of the week, may regress to 11 180 support, which will be the lowest of about 3 months, if it permanently passes below the 11 300 level. Above, 11 580 – 11 700 may work as resistance zone.
