ANALYSIS
NQ100 Finds Support from PPIApr 14
NQ100 Prepares to Take Back its Losses
Last Friday, in the data of the Procurement Management Institute (ISM), we saw that the NQ100 index was under pressure as the non-manufacturing purchasing managers index (PMI) in the USA was realized at 49.6 points in December, below the 55-point expectations of the markets. However, China's steps to end its 'zero case' policy in its fight against the Covid-19 epidemic, supported the global investor risk atmosphere and caused a reaction to stocks. Under this outlook, the index, which maintains its short-term upside potential by holding on to the 21 WMA in its declines, can take its losses back to the 11 450 level indicated by the Fibonacci 61.8 percent expansion line, if it can make a successful transition to the 11 265 resistance. 10 910 and 10 735 supports can be observed on possible decreases below 21 WMA.
