ANALYSIS
NQ100 Finds Support from PPIApr 14
Recovery Channel is Preserved in NQ100
In the shadow of the negative coronavirus developments in China, we saw that the NQ100 index lost some demand with the decline in the investor risk appetite. However, Cleveland FED Chairman Loretta Mester's statement that the bank may switch to smaller rate hikes starting in December creates hopes that the FED will be less aggressive in tightening monetary policy, allowing the stock market to remain buoyant. Technically speaking, if the technology index, which is seen as defending the rising channel, passes above 11 680 with permanent closes, it may be possible to bring 11 800 resistance to the agenda. In the possible downward movements, 11 400 and 11 275 supports will be followed.
