ANALYSIS
NQ100 Finds Support from PPIApr 14
13 525 is significant in German Index
Data set released today by Destatis showed that production in industry in Germany exceeded market forecasts and registered as +1.8 percent. However, increasing natural gas prices due to the sanctions against Russia are putting strong pressure in terms of costs on German companies. Technically, the index is moving within the descending channel and as long as 13 525 is not broken upwards, it will stay within the channel. Hence, 12 720, 12 435 and 12 150 levels will be on our radar. On the other hand, 13 800 will be our resistance in case of an increase above 13 525.
