ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40: Credit Suisse Effect on European Stock Exchanges
Deutsche Bank shares retreated to their lowest level since March 2020, when the pandemic was declared, following the jumping sales due to the news feeds that reflected on the market that the Zurich-based financial institution Credit Suisse carries a leveraged transaction of $900 billion and has a severe liquidity problem, while the DAX40 appears to be under strong pressure. On the other hand, the increase in recession risks to the European economy with fluctuating natural gas prices also has a downward effect on the index. Technically speaking, the index appears to be defending the descending channel movement. Above, as long as the 12 100 level indicated by the 30-period simple moving average is preserved as a resistance, the probability of the index falling to 11 660 behind 11 810 will continue to increase.
Support: 11 810 – 11 660 – 11 500
Resistance: 12 100 – 12 255 – 12 395
