ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 May Drop to 2-Months Low
The hawkish statements by the US Federal Reserve (FED) policymakers against high inflation continue to put strong pressure on relatively risky assets by strengthening the dollar. The day we left behind, the US 10-year bond yields had risen to 3.15 percent, the highest level in two months. In addition, the decline in the manufacturing purchasing managers index (PMI) in China to 49.5 points in August also has an impact. Technically speaking, the psychological level of 12 000 in the NQ100 index, which maintains its descending channel appearance on the fourth trading day of the week, will be followed closely. In the permanent transitions below this point, a regression can be recorded until the support of 11 860, which will be the lowest of about 2 months. In upside trials, 12 285 – 12 420 can work as a stabilization zone.
