ANALYSIS
NQ100 Finds Support from PPIApr 14
The Decline in NQ100 Continues in the 2nd Wave
After yesterday's US GDP data, a slight recovery was seen in the NQ100 index. However, against the risks that inflation may be permanent in the country, the expectations that the Federal Open Market Committee's (FOMC) rate hike path may take longer than the autumn forecasts are putting pressure on stocks. Technically speaking, the NQ100 index appears to be defending bearish fans. Above, as long as the 12 300 level remains as resistance, the risk for the index to decline to 11 830 points behind the psychological 12 000 in the Fibonacci 2nd bearish wave will continue to increase. In a surprise transition above 12 300, 12 455 resistance can be observed.
