ANALYSIS
NQ100 Finds Support from PPIApr 14
14 355 support is the key in DAX40
Natural gas contracts are balanced around 99 euro; however, tensions are rising between Russian and the West and natural gas prices are expected to rise again. Possibility of hitting 345 euro again is putting cost pressure on German companies. On the other side, German 10-year bonds hit 0.52, the highest level since November 2018 and we observe downward movements in the German index. Technically, 14 355 support is highly important. If this support is broken strongly, the ascending wedge pattern might come to an end and target 14 175 and 14 000 support levels. On the other side, 14 680 – 14 870 rang is still on our radar as a strong resistance zone.
