ANALYSIS
NQ100 Finds Support from PPIApr 14
Reactions in NQ100 May Consolidate
The fact that the PPI data announced on Friday exceeded the market expectations brought sales to the index in the first quotes. However, the impressive decline in the core PPI created a reaction to the index, keeping the baseline scenario that the FED will reduce the rate of policy tightening in December. Technically, it is seen that the index is holding on from the 200-period simple moving average (MA) in its declines. If a meaningful recovery to 11 680 resistance above can take place, the reactions may consolidate, making it possible to reach 11 820 and then 11 960. In possible declines below 200 MA, 11 445 and 11 310 supports can be observed.
