ANALYSIS
NQ100 Finds Support from PPIApr 14
13,090 Will Be Decisive in DAX40
The DAX40 index has recently benefited from expectations that German companies' costs will fall as natural gas prices in European markets drop. However, according to the European Statistics Office's (Eurostat) preliminary reading data, consumer inflation in the Eurozone reached a new high of 9.1 percent on an annual basis in August. The index is under pressure as the ECB is expected to increase the rate of monetary tightening. As long as the 13 090 level indicated by the descending minor trend line is defended as a resistance, the DAX40 will be able to continue its dissolution. It can be withdrawn to the 12 580 level if the index passes below the 12 720 level permanently. In case of crossing over possible 13 090, 13 255 resistance can be followed by market players.
