ANALYSIS
NQ100 Finds Support from PPIApr 14
Recoveries in NQ100 Were Not Permanent
According to the data from China's National Bureau of Statistics (NBS), the manufacturing purchasing managers index (PMI) pointed to a growth of 50.1 points in September, which brought some reaction to the NQ100 index. However, the dollar, which has strengthened as a result of the US gross domestic product (GDP) growth data confirming that the recession has entered with a contraction of %0.6 in the second quarter and the hawkish messages from the US Federal Reserve (FED) Officials recently, maintains its pressure on the technology index. Technically speaking, the index, which continues to defend the descending channel movement below the 50-period exponential moving average, may decline to the level of 10 935 if it can fall below 11 070 permanently. In the upward attempts that may occur, 11 400 followed by 11 550 resistance levels may come to the fore.
