ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40 May Deepen the Declines
Natural gas prices, which fell to 150 euros in Europe, gave some support to the DAX40 index with the expectation that it would reduce the cost pressure on German companies. However, the shrinkage of German industrial production by 0.8% in August, announced last Friday, continues to keep the recession possibilities for the third quarter alive. On the other hand, on the first day of the week, the messages of the leading officials of the European Central Bank (ECB) regarding the interest rate hike path also weigh on the index. In this context, as long as the 12 550 level indicated by the descending minor trend line is defended as a resistance, the declines of the DAX40 may extend to the psychological 12 000 support followed by 12 150. In a possible transition above the 12 550 level, an upward path can be observed up to 12 720 resistance.
