Natural gas prices, which decreased to 160 euros in Europe, reflected somewhat positively on the DAX40 index. However, the fact that the composite PMI data, which is the indicator of the economic performance announced this week in the Eurozone, decreased to 48.1 points in September, reveals that the economic activity in the region declined, while the pressure on the DAX40 index has increased. In addition, the contraction of industrial production in Germany by 0.8% in August has a downward effect on the index. Technically speaking, the DAX40 index, which failed to break the descending minor channel and tended to retreat, may regress to 12 240 support, marked by the Fibonacci 50.0% retracement line, if it passes below the 12 360 level with permanent closes. 12 620 – 12 750 resistances can be followed in possible upward attempts in the DAX40 index.

Support: 12 360 – 12 240 – 12 100
Resistance: 12 620 – 12 750 – 12 900