ANALYSIS
NQ100 Finds Support from PPIApr 14
14 000 Support is on our radar in bearish DAX40
The data released on Friday by Eurostat indicated that Euro Area international trade in goods deficit was the highest of all times due to the strong domestic demand, imports and high cost of energies. In addition, ECB members’ hawkish statements put additional pressure on the German index. Technically, the index started to decline from the 200-period simple moving average and if it breaks the minor ascending wedge permanently, we will follow 14 165 and 14 000 support levels closely. However, if we see it moving above the 200 MA, 14 525 - 14 700 range will be a significant resistance zone for us.
