ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 May Recover Yesterday's Losses
The data released by the US Federal Reserve (FED) yesterday showed that industrial production contracted by 0.7 percent in December, putting pressure on the index. However, the fact that the producer inflation reported by the Ministry of Labor fell to 6.2 percent in December, against the expectations of 6.8 percent, kept the demand for the index relatively resilient, creating hopes that the FED will reduce the policy tightening rate to 25 basis points at the February meeting. Technically speaking, it is seen that the NQ100 index has received strong support from the 50 EMA in its declines. However, if the index, which maintains its short-term upside potential, can recover to 11 500 resistance, it can retrace its losses till 11 620, then 11 745 points. In possible declines below the trend line, 11 250 and 11 130 supports can be observed.
