ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40:Further Downward Movements in the Index May Come
On the day we left behind, retail sales in the locomotive economy of the Eurozone contracted by 3.6% on an annual basis in May. In addition, natural gas prices in Europe continue to be high. While futures natural gas contracts in the Dutch stock market climb up to 150 euros, the concerns of cost pressure from German companies continue. On the other hand, the expectation that the European Central Bank (ECB) will continue on its tightening path, with the consumer price index (CPI) in the Euro Zone rising to the highest level in 25 years with 8.6 percent in June, causes pressure on the DAX40 index. From this point of view, if the index, which continues to be priced negatively under the descending minor trend, passes behind the 12 600 level permanently, it can regress to the support of 12 435, which is the lowest level of about 4 months. 12 900 resistance can be observed in possible upward movements in the pricing of the index.
