ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100:Index Tries to Retrace Losses
The day we left behind, the People's Bank of China (PBoC) did not make its policy divergence with the FED more evident by keeping the main funding interest rate constant. We see that the stock market reacted with the recovery in risk appetite. Technically, the downtrend is over. Concluding the descending wedge formation, the NQ100 index can retrace its losses to 11 985, where the Fibonacci 50.0 percent retracement line marks 11 800, if it can complete its transition to 11 620 resistance. In the possible resolutions of the index, 11 300 and 11 135 supports will be followed.
