ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 is Trying to Recover
A few days before the September meeting of the US Federal Reserve (FED), we saw that the NQ100 index was under pressure against the dollar, which was strengthened by the hawkish messages from its leading officials. However, on the day we left behind, the technology index tended to recover, as the PMI data showing production activities in the USA showed a positive divergence from developing countries by pointing to expansion. Technically, it seems that the intermediate trend correction has been completed. However, the preparation for the descending wedge formation is also very clear. Above the 12 400 level is at the initial resistance position. If a permanent transition is made above this point, the recovery may accelerate up to 12 565 resistance. At the bottom, 12 100 and 11 940 supports remain important.
