ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40 May See 2-Years Low
The moderate retracement of European natural gas prices supported the DAX40 index slightly, with expectations that it would relieve cost pressures on German companies. However, with the decline in manufacturing activities in the Euro Zone to 49.6 points in August, the economic activity lost momentum and the recession possibilities continued to weigh on the index. In addition, on the day we left behind, it is possible to say that the consumer inflation in the Euro Zone, which renewed its record with 9.1 percent on an annual basis in August, suppressed the DAX40 index with the possibility that the European Central Bank (ECB) might make an aggressive interest rate increase in the critical September meeting to be held next week. Technically speaking, DAX40, which maintains its downward trend on the fourth trading day of the week, can continue its decline until 12 360 support, which will be the lowest level it has seen since November 2020, if it leaves the 12 500 level behind with permanent closes. The range of 12 780 – 13 000 may be a stabilization zone.
