ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40 Realized Trend Change
Last day, we saw the DAX40 index weaken as the first reaction to the European Central Bank (ECB) raising the policy rate by 75 basis points for the first time in its history at its September monetary policy meeting. However, in markets that have almost fully priced in an ECB rate hike, we observe that the risk atmosphere is on the road to improvement. In addition, expectations that falling natural gas prices in Europe will reduce the cost pressure on German companies also support the index. Technically, in the transition of the index, which ended the intermediate downward trend, to the 13 265 resistance, the recovery may continue until the 13 440 level marked by the Fibonacci %61.8 correction line. In possible downward movements, the range of 12 920 - 12 750 may be a strong support zone.
