ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 May Give Back its 1-Month Earnings
We observe a weakening in investor risk appetite on the third trading day of the week in global markets. While the VIX index, known as the stress indicator in the stock market, exceeded the threshold 20 points again, it is observed that NQ100 has difficulty in maintaining its gains. In the technical view, it is quite clear that the NQ100 index cannot exceed the 100-period simple moving average (MA). Using this region as a strong resistance, the index fell and broke the minor trend line. As a matter of fact, the RSI oscillator, known as the relative strength index, has also started to produce a sell signal again. Below, 11 390 support, last seen on November 10, is critical. With the consolidation that will be created by the end of this place, sales can accelerate up to 11 050 points behind 11 220. On the other hand, the 11 750 – 11 930 line above will continue to be a strong resistance zone.
