ANALYSIS
NQ100 Finds Support from PPIApr 14
Support in NQ100 is Preserved
Less than 48 hours until the US Federal Reserve's (FED) interest rate announcement. It is considered almost certain that the bank will increase interest rates by 75 basis points. This causes weight on index. However, last week, the PCE Deflator, the inflation indicator closely monitored by the FED, confirmed that the peak was left behind with 6.2% level in September. In this context, it is seen that the hope that the FED may slow down in monetary tightening after November cause the index to remain resistant. Technically, if the technology index, which is likely to find demand, as long as the pricing behavior is maintained above the 11 330 level indicated by the 50-period exponential moving average, exceeds 11 680, it can rise to the 11 800 resistance, which will be the highest of about 2 months. In possible decreases below the 50 EMA, the psychological 11 000 support can be followed after the 11 150 level.
