ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Maintains Its Resistant Stance with Messages from FED Members
After the serious increase in the number of coronavirus cases in China in recent days, the increasing protests against the restrictions put some pressure on the technology index NQ100, reducing the investor risk appetite. However, we see that the index remains resilient, with messages from some key FED Members. Indeed, yesterday Cleveland Fed Chair Loretta Mester said she thinks they are close to a break in tightening. With the limited effect of this and the FOMC Minutes, the index may find demand against the relatively weak dollar. Technically, if the index, which continues its channel movement on the second trading day of the week, rises above 11 780 permanently, it can open the way for the transition to 11 900 resistance. In the retracement movements that may occur, 11 500 will be watched closely.
