ANALYSIS
NQ100 Finds Support from PPIApr 14
Powell Effect on NQ100
Fed Chairman Jerome Powell's presentation on the Banking Sector in the Senate last night, pointing out that the tight monetary policy might get harder, caused hard sales in the index. If this cannot be achieved in the index, which is trying to hold on to the 12 100 support, which corresponds to the 50-period simple moving average (SMA) , the declines may harden and gain a new momentum towards the 11 780 support. However, we will be watching the 12 270 and 12 390 resistances in the new recovery that can be formed by staying above the 12 100 support.
