ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40 is Preparing to Enter the Correction Path
High energy prices in Europe dominate the DAX40 index. However, according to preliminary reading data from the Statistical Office of the European Communities (Eurostat), the 4.1 percent annual growth of gross domestic product (GDP) in the Eurozone, above market expectations on an annual basis in the second quarter, is supporting the index, alleviating some of the recession concerns in Europe. Technically, there's a descending wedge formation. If above the critical resistance level of 12 960 can be permanently exceeded, the wedge formation can be terminated and 13 110 followed by an increase up to the resistance of 13 265 indicated by the Fibonacci 50.0 percent reject line. Below, 12 655 and 12 500 supports can be followed.
