ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:Index May Sustain Losses
After the critical June meeting of the US Federal Reserve (FED), Chairman Jerome Powell's less hawkish messages than expected gave global markets some breath. However, the pressure on the technology index continues, as the bank made the largest-scale rate hike since 1994, increasing by 75 basis points. Resurgent recession concerns also play a role. Technically, the index, which maintains its downward outlook on the last trading day of the week, can lose value until the 10 900 support, which will be the lowest level since September 2020, if it can leave the 11 040 level behind it permanently. In the upside scenario that can be experienced in the index, 11 500 resistance can be followed after 11 350.
