ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40: Dissolutions in the Index May Intensify
Recently, hawkish messages about monetary policy have been coming from the leaders of the European Central Bank (ECB). On the day we left behind, Klass Knot, a member of the ECB Governing Council, hinted at the possibility of a 50 basis point rate hike, paving the way for decisions in the index. On the other hand, the expectation that tensions will not ease with Ukrainian President Volodymyr Zelenskyy’s statement that they will continue to fight until they get all their lands back cannot ease concerns that this could lead to cost pressure on German companies that are already heavily dependent on Russian energy. Technically, the support of 13 860 points could come to the fore if the DAX40 index, which indicates the continuation of the trend by maintaining the rising wedge formation, can be permanently pushed below the support of 14 000 points with the relaxation of contracts. In case of possible attacks of the index to the top, the resistance 14 280 can be closely watched by market participants.
