ANALYSIS
NQ100 Finds Support from PPIApr 14
12 ,640 Support Will Be Determinant In DAX40
As the European Statistical Office (Eurostat) reported today, consumer inflation in the eurozone was 9.9% on an annual basis in September. The data put pressure on the DAX40 while increasing the possibility of a 75 basis point rate hike for the European Central Bank's (ECB) meeting dated October 27. However, in the financial markets, the investor risk atmosphere continues to improve. At the same time, the DAX40 continues to be supported by the hope that natural gas prices, which have declined to 115 euros on the European stock markets, will alleviate the cost pressure on German companies. Technically speaking, the DAX40 index appears to be defending the recovery channel. At this point, as long as a holding above 12 640 is achieved, the index is highly likely to recover its losses up to 12 910 and then 13 065. In the declines below 12 640; 12 500 and 12 350 supports can be followed.
