ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:Index Finds Demand Before Critical FED Meeting
International markets are almost completely priced in that the Federal Open Market Committee (FOMC) will raise interest rates by 75 basis points at its July meeting. However, today's press conference by Fed Chairman Powell will be extremely critical. If Powell can convince the markets enough of the Committee's willingness to contain inflation without suffocating the economy, he can also ease the strong pressure the dollar exerts on international assets. From this point of view, we will closely monitor the 12 410 resistance in the index. With the medium-term upside potential protected above the 100-period exponential moving average (100 EMA), if the 12 410 level, which is the strong resistance, can be surpassed, 12 550, then the recovery may continue until 12 720, which was last seen on 9 June. In the pullbacks, 12 145 and 12 000 supports will be followed.
