ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Prepares for Correction Movement
According to the data released by the US Department of Labor yesterday, the country's economy grew by 3.2% in the third quarter, despite the market's expectation of 2.9%, which is a positive factor for stocks. Technically speaking, the NQ100 index appears to be in preparation for a descending wedge. If a recovery can be made to the 11 140 resistance above, with the end of the wedge, there may be a correction up to 11 325, which is marked by the Fibonacci 38.2 percent retracement line. In possible retracements, 10 785 and 10 600 supports can be followed.
