ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Is Pressed Before U.S. CPI Data
We see that the pressure on the NQ100 index increased before the consumer price index (CPI) data to be announced in the USA, which is at the focal point of the global markets. If the data exceeds the expectations of 8.7 percent, the US Federal Reserve (FED) may raise interest rates by 75 basis points. In addition, billionaire entrepreneur Elon Musk's sale of approximately $ 6.9 billion worth of Tesla shares also has a downward effect on the technology index. From a technical point of view, the index, which gives the signals of selling movements under the descending minor trend on the third trading day of the week, can continue its decline until 12 730 support if it passes below the 12 870 level permanently. If it is above, 13 140 resistance may enter the radar of market players.
