ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:Index May Deepen The Losses
As China's PMI data for the manufacturing and service purchasing managers index returned to expansion, we noticed some improvement in the index. However, the day we left behind, US Federal Reserve (Fed) Chairman Jerome Powell stated that they aim to increase interest rates without causing a recession. Cleveland FED Chairman Loretta Mester pointed to a 75 basis point interest rate increase at the July meeting, and the downward reflections on the index continue. Technically, the technology index, which aims to deepen its losses by breaking the minor wedge on the fourth trading day of the week, can continue its easing until 11 200 support if it passes below 11 340 level permanently. In case of possible upward movements in the index, 11 650 resistance point can be followed closely.
